RegAlert

Rule · PMA · 1 Dec 2010

Circular No. 123: Commencement of the New Banking Law

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The Palestine Monetary Authority issued Circular No. 123 to announce the immediate commencement of Law Decree No. (9) of 2010 concerning Banks, which officially repeals the previous Banking Law No. (2) of 2002. All banks operating in Palestine are required to fully align their operations and legal status with the new legislation within the compliance deadline set forth in Article (74). Existing PMA regulations and guidelines remain valid only to the extent they do not conflict with the new law, pending formal replacement under the new statutory framework.

PalestinePalestine Monetary Authority

Palestine Monetary Authority

Palestine Monetary Authority

Circular No. (2010/123)

To all banks operating in Palestine

Date: Wednesday, December 1, 2010

Subject: Commencement of the New Banking Law

In light of the publication of Law Decree No. (9) of 2010 concerning Banks in the Official Gazette on Saturday, November 27, 2010, we inform you that the new law shall take effect as of its publication date in the Official Gazette, as stipulated in Article (77) thereof. All banks are required to align their status with the provisions of this law within the deadline specified in Article (74) thereof. Consequently, Banking Law No. (2) of 2002 is hereby repealed. Regulations, instructions, decisions, and guidelines issued by the Palestine Monetary Authority shall remain in force to the extent that they do not conflict with the provisions of this law, until they are repealed and replaced by regulations, instructions, and guidelines issued under this new law.

A copy of Law Decree No. (9) of 2010 concerning Banks is available on the Palestine Monetary Authority's website.

Dr. Mohannad Al-Khafaji
Supervision and Inspection 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 Ramallah - Al Bireh - P.O.Box: 452 - Tel: 02-2409920 - Fax: 02-2409922 Gaza - P.O.Box: 4026 - Tel: 08-2825713 - Fax: 08-2844487 www.pma.ps

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Banking Law No. (2) of 2002Not in RegAlertBanking Law No. (2) of 2002 — Not in RegAlertMentions (1)a document this one mentionsopen the list below the graph ▾Mentions (1): a document this one mentions without changing it — open the list below the graphCircular No. 123: Commencementof the New Banking Law2010-12-01 · this documentCircular No. 123: Commencement of the New Banking Law (2010-12-01)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (1)
Supersedes
  • Banking Law No. (2) of 2002Not in RegAlert

    “Consequently, Banking Law No. (2) of 2002 is hereby repealed.”

Mentions (1): 1 document this one mentions without changing it
Refers to
  • Law No. (9) of 2010 concerning Banks2018 · PMA

    “In light of the publication of Law Decree No. (9) of 2010 concerning Banks in the Official Gazette on Saturday, November 27, 2010”

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