Palestine Monetary Authority

Palestine Monetary Authority

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Circular No. (88/2013)
To all banks operating in Palestine
Date: Tuesday, July 09, 2013

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Subject: Bank Commitment Certificate / Letter of No Debt

Further to Circular No. (70/2013) dated 28/05/2013 regarding customers' requests for a Letter of No Debt, and following a review of the standard operating procedures adopted by banks concerning the aforementioned subject, and to regulate the process in alignment with customer rights and Credit Information System requirements, all banks are required to provide their customers with a Bank Commitment Certificate / Letter of No Debt within three business days in cases where the bank's customer has no direct or indirect obligations. Banks must also commit to immediately updating the data of reported customers with the Credit Information Office through the designated website, without waiting for monthly disclosure processes.

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Public Relations and Market Officers Department Palestine Monetary Authority

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Ramallah - Al Birih P.O.Box 452 - Tel.: 02-2409920 - 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.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box: 4026 - Tel.: 08-2825713 - Fax: 08-2844487