Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (29/2019)

To all banks operating in Palestine
Date: Monday, February 04, 2019

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Subject: Preparation Guidelines for Developing the Banking Accounts System

In the context of the Palestine Monetary Authority's efforts to develop banking operations systems and enhance them to facilitate and simplify banking sector operations, thereby reducing operational, credit, and money laundering/combating the financing of terrorism (AML/CFT) risks associated with new account opening processes, and to strengthen "Know Your Customer" (KYC) procedures when opening various banking accounts, and based on previous workshops held with bank operations and IT managers regarding the development of the banking accounts system, and the understandings reached during these workshops, all banks are requested to begin working on developing and preparing their systems and to prepare for implementing this system after fulfilling all requirements outlined in this Circular.

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First: Demographic File Structure

Two types of demographic files will be created: the first for individuals, and the second for legal entities (companies, institutions, associations, etc.). The file type must be (TXT), and a semicolon (;) shall be used as the delimiter between fields within a single file.

1- Individual Demographic File:

This file contains demographic data for resident and non-resident individuals only. It is used to add demographic data for new accounts and demographic data for founders and shareholders of legal entities, as well as to modify demographic data for active accounts existing in the banking accounts database for all customers, including primary customers who do not hold any banking or credit accounts but for whom the bank holds data because they are attached or directly/indirectly linked to a banking account. Annex (1).

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B- Legal Entity Demographic File:

This file contains demographic data for companies/institutions/other legal entities. It is used to add demographic data for new accounts, as well as to modify demographic data for active accounts existing in the banking accounts database. Annex (2).

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Second: Banking Account Type Data File

This file contains data on the types of banking accounts for individuals and legal entities, without disclosing the balances of these banking accounts. It is used to add data for new banking accounts, modified data, and data for checks deposited for collection fees in a single file. Annex (3).

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Third: Check Data Modification File for Checks Deposited for Collection Fees

This file contains data regarding checks deposited for collection fees for individuals and legal entities, and discloses changes made to the number and value of checks deposited for collection fees reported. Annex (4).

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Fourth: Customer Data Update File

This file contains customer data that must be updated based on developments and updates to the account(s) of a single customer or a group of customers in the bank's database. Their data is extracted from the banking accounts database and the file is sent according to Annex (5).

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Fifth: General Provisions

1. The process of disclosing customers' banking accounts to banks is based solely on aggregating demographic data, without including customers' account balances. The only exception to this rule is checks deposited for collection fees, which are disclosed by number and value at the level of the same account currency.
2. Demographic data for founders and shareholders of legal entities, regardless of their types and legal forms, shall be declared through the Individual Demographic File. Disclosure of shareholders in public joint-stock companies is limited only to the company's founders.

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Sixth: System Development Timeline

All banks must take the necessary measures to ensure their systems are prepared to generate these files according to the timeline below:

Time Period	Action
2019/04/01	Preliminary review of file structure and notes
2019/06/01	Preliminary system review with a sample of banks
2019/08	Official system launch

Please accept our highest regards,

Market Supervision Department
Palestine Monetary Authority

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Annex (1)

Demographic Data for Individual Accounts

Criterion	Information
Mandatory	Customer: Resident - Non-resident
Mandatory	ID/Passport Number
Mandatory	Annex (6) (Resident S, Non-resident F) Type of Personal Identity Document
Mandatory	Nationality (Customer nationality declared according to ISO codes)
Mandatory	Annex (7) Full Four-Part Name according to Personal Identity Document
Mandatory	Surname (Customer's surname, and if unavailable, marked as (N/A))
Mandatory	Place of Issue
Mandatory	Date of Issue (DD/MM/YYYY)
Mandatory	Expiry Date of Stay (DD/MM/YYYY) for Non-residents
Mandatory	Place of Birth (as stated in Personal Identity Document) (DD/MM/YYYY)
Mandatory	Date of Birth (as stated in Personal Identity Document) (DD/MM/YYYY)
Mandatory	Occupation
Mandatory	Occupation
Mandatory	Classification of Customer's Legal Status according to Annex (8)
Mandatory	Monthly Income Value, if income value is unavailable, place value (0)
Mandatory	Income Currency (Annex (9))
Non-Mandatory	Other sources of non-monthly or irregular income
Mandatory	Gender (Male "1", Female "2")
Mandatory	Marital Status (Single "1", Married "2", Divorced "3", Widowed "4")
Mandatory	Mother's Name (as stated in Personal Identity Document)
Mandatory	Spouse's Name (as stated in Personal Identity Document)
Non-Mandatory	Nature of Spouse's Occupation or if no occupation (N/A)
Mandatory	Residential Address (Current Residence)
Mandatory	Customer's Work Address
Non-Mandatory	Customer's Email Address
Mandatory	Governorate to which the Customer belongs (Annex (11))
Mandatory	City to which the Customer belongs (Annex (12))
Mandatory	Educational Level (Vocational Diploma, Higher Diploma, Master's, Doctorate, Tawjihi)
Mandatory	Country of Residence for the Customer (without Annex (14))
Mandatory	P.O. Box Number, if unavailable (N/A)
Non-Mandatory	Customer's Postal Code
Non-Mandatory	Permanent Address according to ID
Non-Mandatory	Customer's Fax Number, if unavailable (N/A)
Mandatory	Customer's Mobile Phone Number

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Annex (2)

Demographic Data for Company / Institution / Legal Entity Accounts

Criterion	Information
Mandatory	Registration Number / SPADY Code (as stated in Registration Certificate or issued by PMA)
Mandatory	Type of Personal Identity Document (Company/Entity/Institution Annex (6))
Mandatory	Entity Name (as stated in Registration Certificate)
Mandatory	Trade Name (as stated in Registration Certificate)
Mandatory	Chairman of the Board / Company / Institution Name (as stated in Registration Certificate)
Mandatory	Registration Date (DD/MM/YYYY) (as stated in Registration Certificate)
Non-Mandatory	Establishment Date (DD/MM/YYYY) (as stated in Registration Certificate)
Mandatory	Company Establishment Location Governorate
Mandatory	Tax Number
Mandatory	Annual Profit
Mandatory	Annual Income
Mandatory	Currency (Income Currency according to Annex (9))
Mandatory	Declaration of Entity Status according to Entity Legal Status Classification Annex (8)
Mandatory	Declaration of Economic Sector in which the Company operates Annex (10)
Mandatory	Legal Form (as stated in Registration Certificate Annex (13))
Mandatory	Capital (as stated in Registration Certificate)
Mandatory	Capital Currency (as stated in Registration Certificate Annex (9))
Mandatory	Headquarters Address for Company / Institution / Entity (as stated in Registration Certificate)
Non-Mandatory	Entity Email Address
Mandatory	Entity Postal Code
Mandatory	Licensing Country for Operations
Non-Mandatory	Entity Phone Number
Non-Mandatory	Entity Fax Number
Non-Mandatory	Entity P.O. Box
Mandatory	Governorate where the Entity Headquarters is located (Annex (11))
Mandatory	City where the Entity Headquarters is located (Annex (12))

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Annex (3)

Banking Accounts File

Number	Criterion	Information
.1	Customer ID/ Registration Number	Customer ID/ Passport Number/ Company Registration/ SPADY Code
.2	Customer ID Type	Customer Document Type (Primary - Guardian ID Number in case of minor's account)
.3	Nationality	Nationality (Specify customer document type according to classifications in Annex (6))
.4	Bank Code	Bank Code (Customer Nationality, for Companies (PS) Non-resident Nationality according to Annex (7))

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Annex (4)

Check Modification File for Collection Fees

Number	Criterion	Information
.1	Customer ID/ Registration Number	Customer ID/ Passport Number/ Company Registration/ SPADY Code
.2	Customer ID Type	Customer Document Type (Specify customer document type according to classifications in Annex (6))
.3	Nationality	Nationality (Customer Nationality, for Companies (PS) Non-resident Nationality according to Annex (7))
.4	Account code	Account Number
.5	Number of outstanding checks under collection	Current number of checks deposited for collection fees
.6	Amount of outstanding checks under collection	Current balance of checks deposited for collection fees according to account currency

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Annex (5)

Customer Data Update File

Number	Criterion	Information
.1	Customer ID/ Registration Number	Customer ID/ Passport Number/ Company Registration/ SPADY Code
.2	Customer ID Type	Customer Document Type (Specify customer document type according to classifications in Annex (6))
.3	Nationality	Nationality (Customer Nationality, for Companies (PS) Non-resident Nationality according to Annex (7))

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Annex (6)

Document Type

Code	Description
S	Resident - ID
F	Non-resident - Passport
C	Company

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Annex (3) (Continued)

Number	Criterion	Information
.5	Branch Code	Branch Code
.6	Basic Account Number	Basic Account Number
.7	Account Number	Account Number
.8	Account type	Account Type
.7.1	Current account (CA)	Current Account
.7.2	Saving account (SA)	Savings Account
.7.3	Deposit account (DA)	Time Deposit Account
.7.4	Basic account (BA)	Financial Inclusion Account (Account for every citizen)
.9	Account Status	Account Status
.8.1	Active (AC)	Active
.8.2	Dormant (DO)	Dormant
.8.3	Closed (CL)	Closed
.8.4	Suspended (SC)	Suspended
.10	Account open date	Account Opening Date
.11	Account status	Account Status
.12	Account Currency	Account Currency (Annex (9))
.13	Economic Sector	Economic Sector
.14	Closing date/ dormant date/ Suspended date	Account Status Modification Date
.15	Date of last update	Date of Last Data Update
.16	Minor ID Number	Minor ID Number (If the account is for a minor's benefit, the minor's ID number will be added)
.17	Number of Checks under collection	Number of Checks Deposited for Collection Fees (Number of checks changes continuously according to modifications we will make)
.18	Amount of Checks under collection	Value of Checks Deposited for Collection Fees according to Account Currency

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Note:

Data for both partners shall be declared, but the account status will be (JO) and the same account number.