Regulatory Alerts2023-01-01
Palestine Monetary Authority Circular No. 74/2023: Global Financial Developments
The Palestine Monetary Authority issued Circular No. 74/2023 to mandate all Palestinian banks to proactively monitor and mitigate risks stemming from recent global financial institution disruptions and sharp declines in financial instrument prices. The circular requires banks to continuously assess exposure levels, measure impacts on capital adequacy and profitability, and generate detailed risk reports with management recommendations. Additionally, banks must convene frequent investment and risk management committee meetings and promptly notify the regulator of any actual or potential adverse impacts on their exposures.
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