RegAlert
2021-12-23

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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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Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (233/2021)
To all banks operating in Palestine Date: Thursday, December 23, 2021

Subject: Internal Capital Adequacy Assessment Process (ICAAP)

In reference to Instructions No. (07) of 2016 regarding the implementation of capital adequacy requirements in accordance with Basel regulations, all banks are required to submit to the Palestine Monetary Authority the Internal Capital Adequacy Assessment Process (ICAAP) report, accompanied by the bank's final financial statements. All provisions conflicting with this circular are hereby repealed.

Dr. Fares Malham
Governor

Note:
The image contains the Palestine Monetary Authority seal at the top, and the Governor's signature at the bottom. At the bottom of the page, contact information is provided:

  • Ramallah and Al-Bireh - Palestine, P.O. Box 452
    info@pma.ps | Fax: +970 2 2415310 | Phone: +970 2 2415251
  • Gaza - Palestine, P.O. Box 4026
    Fax: +970 8 2844487 | Phone: +970 8 282713
  • Website: www.pma.ps

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Lineage: In force

Instructions No. (07) of 2016 o…2016Instructions No. (07) of 2016 on Implementing Capital Adequacy Requirements under Basel II Regulations (2016-08-25)Circular No. (233/2021):Internal Capital Adequacy Ass…2021-12-23 · this documentCircular No. (233/2021): Internal Capital Adequacy Assessment Process (ICAAP) (2021-12-23)
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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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