RegAlert

Rule · PMA · 8 Aug 2021

Circular No. 160/2021: Citing PMA Instructions and Decisions

consumer

The Palestine Monetary Authority issued Circular No. 160/2021 to mandate that all specialized lending institutions and their staff strictly adhere to professional and transparent standards when interacting with customers. The directive explicitly prohibits lending institutions from citing PMA instructions or decisions as justification for refusing to establish business relationships or provide financial services. The regulator further warned that it will enforce appropriate and deterrent penalties against any institution or employee found violating this requirement.

PalestinePalestine Monetary Authority

Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (160/2021)

To all specialized lending institutions operating in Palestine

Date: Sunday, August 08, 2021

Subject: Citing PMA Instructions and Decisions

Committed to protecting customer rights in accordance with the laws and regulations in force in the State of Palestine, the Palestine Monetary Authority reiterates the necessity for lending institutions and their employees to adhere to the highest standards of professionalism and transparency when dealing with customers, and to refrain from citing PMA instructions and decisions as grounds for refusing to establish a business relationship with them and/or providing financial services to them.

We further emphasize that the PMA will not hesitate to impose appropriate and deterrent penalties on violators.

Supervision Group
Palestine Monetary Authority

Note:

  • Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452
    info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251
  • Gaza - Palestine P.O. Box 4026
    Fax: +970 8 2844487 | Tel: +970 8 2825713 www.pma.ps

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Source: Palestine Monetary Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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