Regulatory Alerts2018-01-01
Appendix No. 2 Regarding Application for Approval to Provide a New Payment Service
The Palestine Monetary Authority issued Appendix No. 2 to standardize the regulatory application process for financial institutions seeking approval to launch new payment services. The form mandates that applicants submit a comprehensive economic feasibility study containing a three-year business plan and projected budgets, alongside a detailed written description of the service's operational mechanisms, target audience, and distribution strategy. Additionally, applicants must provide verified documentation proving that all shareholders and the General Manager maintain sound credit performance with no banking defaults.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Appendix No. (2)
Application for Approval to Provide a New Payment Service
Date: / /
Applicant Information
| Company Name | |
|---|---|
| Legal Form of the Company | |
| Paid-up Capital | |
| Full Company Address | |
| Telephone Number | |
| Mobile Number | |
| Email Address |
Required Attachments and Data
| 1 | An economic feasibility study including the future business plan, projected budgets for the first three years of service provision, and the foundations adopted for this. |
| 2 | A written explanatory presentation of the proposed payment service type, its objectives, a description of its operational mechanisms, support for subscribers and beneficiaries, initial distribution locations, and any explanatory presentations requested by the Authority. |
| 3 | Proof of sound credit performance demonstrating that no shareholders (except public joint-stock companies) and the General Manager have defaulted on any of their banking obligations. |
We, the undersigned as authorized representatives of the company, certify that all information provided in this application and its attachments is complete and accurate:
| Name: | Signature: | Date: |
|---|---|---|
| Name: | Signature: | Date: |
| Name: | Signature: | Date: |
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310 | Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Email: info@pma.ps