Regulatory Alerts2022-01-01
No. 247: Licensing of Microfinance Banks and Digital Banks
The Palestine Monetary Authority issued Circular No. (297/2022) to request stakeholder feedback on its newly adopted policy and draft licensing instructions for microfinance and digital banks. This initiative establishes a dedicated regulatory framework aimed at introducing new financial services that stimulate economic growth across Palestine. All payment service companies and interested parties must submit their comments and proposals through the Authority's public consultation portal before the end of the current month.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (297/2022)
To all payment service companies operating in Palestine Date: Wednesday, October 05, 2022
Subject: Licensing of Microfinance Banks and Digital Banks
In order to hear the opinions of stakeholders and interested parties regarding microfinance banks and digital banks, and with the aim of introducing and developing new financial services that contribute to driving economic growth in Palestine, we wish to inform you of the adoption of a policy for licensing this type of bank, and the preparation of draft instructions for licensing these banks, which will be published under the "Your Opinion Matters" section on the Palestine Monetary Authority's website.
Accordingly, we kindly request that you provide us with your opinions and proposals regarding this matter before the end of the current month, for the purpose of completing the relevant regulatory framework.
Supervision Group
Palestine Monetary Authority
Website link: https://bit.ly/pma-opinion
Note:
www.pma.ps
Note:
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 - Palestine - Ramallah & Al-Bireh Governorate
info@pma.ps | Fax: +970 2 2415310 | Fax | Tel: +970 2 2415251 | Tel
Gaza - Palestine P.O. Box 4026 - Palestine - Gaza
Fax: +970 8 2844487 | Fax | Tel: +970 8 2825713 | Tel