RegAlert

Rule · PMA · 13 Dec 2017

Circular No. 254: Disclosure of Customer Data for Certain Private Sector Companies

disclosure
credit

The Palestine Monetary Authority issued Circular No. 254/2017 to mandate the disclosure of customer data for three designated private sector entities onto the national credit information system. Effective December 14, 2017, the Palestinian Development Fund, Farash International Agency for Cars Company, and Arab Financial Leasing Company must utilize their assigned system codes to report and exchange client information. This directive implements international credit information standards to mitigate credit and operational risks across the banking sector's facilities portfolios.

PalestinePalestine Monetary Authority

Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (254/2017)

To all banks operating in Palestine
Date: Wednesday, December 13, 2017

Subject: Disclosure of Customer Data for Private Sector Companies

Based on international standards related to credit information systems and in light of the credit information system database, with the aim of mitigating credit and operational risks in banks' facilities portfolios, please be informed that the disclosure of customer data for the following companies will commence:

  • Palestinian Development Fund — MF17600
  • Farash International Agency for Cars Company — RETC086
  • Arab Financial Leasing Company — LEASF85

on the credit information system, effective from December 14, 2017, where the aforementioned codes have been assigned for use by the companies to disclose and exchange their customers' data.

Market Discipline Department
Palestine Monetary Authority

www.pma.ps

Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310 | Hacks: +970 2 2415310 Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Hacks: +970 8 2844487 Email: info@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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