Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (2017/253)
To all banks operating in Palestine
Date: Monday, December 11, 2017

Subject: Mechanism for Correspondence with the Palestine Monetary Authority and Authorized Signatories

In order to regulate and standardize the correspondence mechanism between the Palestine Monetary Authority and banks, all banks are required to comply with the following:

1. Messages addressed to the Governor or Deputy Governor of the Palestine Monetary Authority must originate from the Chairman of the Board of Directors or the General/Regional Manager.
2. Correspondence addressed to the Assistant Governor and various departments of the Palestine Monetary Authority must originate from the General/Regional Manager or department managers at the General/Regional Administration, and must carry two signatures, with at least one belonging to Category (A).
3. Correspondence issued by the Compliance Officer and related to the Compliance Department's operations must be signed by the Compliance Officer only.
4. Sending any correspondence from branches to the Palestine Monetary Authority is prohibited, and such correspondence will not be processed.
5. Provide the Palestine Monetary Authority annually with a comprehensive signature list containing the names and specimen signatures of approved members of the Board of Directors, General/Regional Administration officials, branch and office managers, and notify the Authority of any changes promptly.
6. Supplement documents sent via electronic communication channels with ordinary mail.

Circular No. (2007/60) issued on 2007/04/03 is hereby repealed.

Supervision and Inspection Department
Palestine Monetary Authority

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