Regulatory Alerts2008-01-01
Circular No. 116: Credit Inquiry by Employees for Themselves and Related Parties
The Palestine Monetary Authority issued Circular No. 116 to prohibit banking sector employees and automated credit information system users from conducting unauthorized credit inquiries into their own financial records or those of relatives and friends. The directive classifies such unauthorized checks as legal violations and reinforces compliance with international best practices for proper system usage. Additionally, the Authority requires all users experiencing technical difficulties with the service website to promptly submit a completed technical service request form via the designated fax number.
Palestine Monetary Authority
Palestine Monetary Authority
Circular No. 116 (2008)
To all banks operating in Palestine
Date: Sunday, October 05, 2008
Subject: Credit Inquiry by Employees for Themselves and Related Parties
Following up on the performance of users of the automated credit information system, with the aim of mitigating usage negatives and problems and strengthening the foundations of proper usage in accordance with international best practices, we wish to inform you that it is not permitted for system users or banking sector employees to inquire about their own financial status or that of any of their relatives or friends, as this constitutes a violation of the law without official authorization to inquire.
In addition, we hope that all users experiencing issues with using the service website will proactively complete the technical service request form and send it to us via the fax number specified in the form, given its importance.
Dr. Arfat, Banking Supervision
Palestine Monetary Authority
Ramallah - Al-Bireh P.O. Box 452 - Tel.: 02-2415250 - Fax: 02-2409922
Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487
E-mail: info@pma.ps
Ramallah - Al-Bireh - P.O. Box: 452 - Tel.: 02-2415250 - Fax: 02-2409922
Gaza - P.O. Box: 4026 - Tel.: 08-2825713 - Fax: 08-2844487
www.pma.ps