Regulatory Alerts2010-04-04
Added · Updated
Circular No. 38/2010: Al-Aqsa Islamic Bank
The Palestine Monetary Authority approved the sale of Al-Aqsa Islamic Bank’s portfolio to the Palestinian Islamic Bank and revoked Al-Aqsa’s operating license following an extraordinary general assembly decision in Amman. A liquidation committee was appointed to oversee the voluntary winding up of Al-Aqsa Islamic Bank while all customer rights and obligations were legally transferred to the Palestinian Islamic Bank. Consequently, all checks drawn on or returned for Al-Aqsa customers’ accounts will automatically be processed through the Palestinian Islamic Bank’s accounts.
More like this from PMA
We email you every new PMA publication the day it's published.
Topics
Share