Palestine Monetary Authority

Palestine Monetary Authority

Circular No. (2009/28)
To all banks operating in Palestine Date: Sunday, March 22, 2009

Subject: "Unlicensed Bank"

Further to media coverage regarding the commencement of the subscription process for a bank named the Islamic National Bank in Gaza, we inform you that the Palestine Monetary Authority has not granted a license to this entity or any other bank recently, in accordance with the provisions of Article (3) of the Banks Law No. (2) of 2002. Accordingly, all banks operating in Palestine are requested not to cooperate with or contract the aforementioned bank, which includes participating in it, managing its subscription process, providing any consulting services to it, or engaging in any other transactions of any kind.

Dr. Ruqaya Al-Mustafa
Banks Department
Palestine Monetary Authority

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Ramallah - Al Birih P.O. Box 452 - Tel.: 02-2415250 - Fax: 02-2409922 Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487 E-mail: info@pma.ps www.pma.ps

Ramallah - Al Birih - P.O. Box: 452 - Tel.: 02-2415250 - Fax: 02-2409922 Gaza - P.O. Box: 4026 - Tel.: 08-2825713 - Fax: 08-2844487