Regulatory Alerts2023-01-01
Circular No. 172: Automated Supervision System (SupTech) - Lending - 2023
The Palestine Monetary Authority issued Circular No. 172/2023 requiring all specialized lending institutions operating in Palestine to ensure data readiness and submit required information via the automated Supervision System (SupTech) by August 31, 2023. Following a May 23, 2023 training workshop and subsequent Industry UAT testing, institutions must align their data provision with the regulatory models already available on the system. The Authority will subsequently coordinate with each institution to complete the data migration onto the platform.
Palestine Monetary Authority
Circular No. (172/2023) To all specialized lending institutions operating in Palestine Date: Tuesday, 08 August 2023
Subject: Automated Supervision System (SupTech)
With reference to the above subject, and in light of the measures taken regarding the completion of preparations for implementing the Automated Supervision System project, and the workshop held on 23/05/2023 aimed at system training and initiating Industry UAT testing, along with subsequent follow-ups regarding data readiness and its provision in alignment with the regulatory models provided to you since 24/05/2023 and available on the system, we inform you of the necessity to ensure your institution's readiness to supply us with the required data according to the models, no later than 31/08/2023.
Accordingly, arrangements will be made with each institution to migrate the data onto the system.
Supervision Group Palestine Monetary Authority