Regulatory Alerts2018-01-01
Circular No. 84: Approval of New Wording on Company Registration Certificates Issued by the Companies Registrar
The Palestine Monetary Authority issued Circular No. 84 (2018) to mandate that all banks operating in Palestine must accept the newly worded company registration certificates issued by the Companies Registrar. The directive addresses prior complaints where banks incorrectly refused these certificates based on a standard disclaimer stating that the document does not exempt companies from obtaining separate licenses from competent authorities. Banks are explicitly instructed to accept the modified certificates without restriction when opening corporate accounts or processing related transactions.
Share