Regulatory Alerts2014-01-01
Circular No. 2: Disclosure of Court Decisions to the Credit Information System
The Palestine Monetary Authority issued Circular No. 2/2014 to mandate the integration of banking-related court decisions into the national Credit Information System. The directive requires all licensed banks to instruct their legal advisors to include the defendant's identification number, full name, and address in all legal complaints. This standardized data collection enables competent judicial authorities to accurately match and submit court rulings to the regulator, fulfilling the system's 2014 modernization objectives.
Palestine Monetary Authority
Palestine Monetary Authority
Circular No. (2/2014)
To all banks operating in Palestine
Date: Sunday, January 05, 2014
Subject: Disclosure of Court Decisions to the Credit Information System
In accordance with the Palestine Monetary Authority's plan to update the Credit Information System during 2014 by adding court decisions related to banking matters to the credit report, and following necessary coordination with the competent judicial authority, all banks are instructed to direct their legal advisors to provide the following data:
- National ID number / Passport number / Registration number.
- Full name.
- Address of the defendant.
This data must be included in the legal complaint against the defendant, enabling the judicial authority to supply the Palestine Monetary Authority with court decisions that align with the Credit Information System's requirements.
Public Relations and Market Discipline Department
Palestine Monetary Authority
Ramallah - Al Bireh P.O.Box 452 - Tel.: 02-2409920 - Fax: 02-2409922
Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487
E-mail: info@pma.ps
www.pma.ps
Ramallah - Al Bireh P.O.Box 452 - Tel.: 02-2409920 - Fax: 02-2409922
Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487