Regulatory Alerts2015-01-01
Circular No. 119: Language of Official Documents Required for Account Opening and Updating
The Palestine Monetary Authority mandates that all banks operating in Palestine must use Arabic as the primary language for official documents required during account opening and updating processes, particularly for companies, institutions, and entities. If original documents cannot be provided in Arabic, banks are required to obtain and retain officially certified Arabic translations effective immediately. This directive reinforces previous 2009 instructions on account management and banking secrecy by standardizing documentation language to ensure regulatory compliance and operational transparency.
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