RegAlertRule · PMA · 28 Dec 2014
Circular No. 193 Monthly Facilities File
The Palestine Monetary Authority issued Circular No. 193/2014 to mandate that all banks operating in Palestine reduce the allowable technical error lines in their monthly facilities file submissions from 25 to zero, effective January 1, 2015. This strict requirement aligns with the launch of Version III of the new credit information system to ensure the comprehensive and accurate reporting of borrower and guarantor data. Banks must exercise strict precision in data disclosure and fully resolve all file errors, as non-compliance will trigger regulatory enforcement measures.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (193/2014)
To all banks operating in Palestine
Date: Sunday, December 28, 2014
Subject: Monthly Facilities File
Further to our Circular No. (2012/24) dated 13/02/2012 regarding the determination of the number of acceptable technical error lines during the migration of monthly facilities files, set at 25 lines, and due to the launch of the updated version (Version III) of the new credit information system, and in order to maintain the comprehensiveness and accuracy of facilities data for borrowers and their guarantors, we hereby inform you that the number of acceptable technical error lines in the monthly facilities file has been reduced from 25 lines to (zero), effective January 1, 2015.
Accordingly, all banks are requested to exercise precision in disclosing facilities data and fully address errors in the file; otherwise, the Palestine Monetary Authority will consider taking necessary measures to ensure compliance.
Public Relations and Market Discipline Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922 Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 Email: info@pma.ps www.pma.ps
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- Circular No. (2012/24) dated 13/02/2012 regarding the determination of the number of acceptable technical error…Not in RegAlert
“Further to our Circular No. (2012/24) dated 13/02/2012 regarding the determination of the number of acceptable technical error lines during the migration of monthly facilities files, set at 25 lines... we hereby inform you that the number …”
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