Regulatory Alerts2021-01-01
Circular No. (233/2021): Internal Capital Adequacy Assessment Process (ICAAP)
The Palestine Monetary Authority issued Circular No. 233/2021 mandating all banks operating in Palestine to submit their Internal Capital Adequacy Assessment Process (ICAAP) report alongside their final financial statements. This directive reinforces Instructions No. 07 of 2016 by formally requiring compliance with Basel capital adequacy standards through standardized internal risk and capital assessments. The circular explicitly repeals any prior conflicting provisions and was signed by Governor Dr. Fares Malham on December 23, 2021.
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