Regulatory Alerts2018-01-01
Application for Approval of Payment Services Company License
The Palestine Monetary Authority issued Appendix 1 to standardize the application process for companies seeking a payment services license. The form mandates applicants to provide detailed founder profiles, legal and financial structures, a five-year strategic plan, and a three-year economic feasibility study. Additionally, it requires supporting documentation including good conduct certificates, operational policy descriptions, and a formal founders' declaration confirming the absence of bankruptcy, criminal convictions, or credit defaults.
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