Regulatory Alerts2021-01-01
Circular No. 76/2021: Signatory List
The Palestine Monetary Authority issued Circular No. 76/2021 mandating all specialized lending institutions in Palestine to prepare and approve a signatory list aligned with their internal financial and administrative authority matrix. Institutions must submit an official annual copy of this list to the regulator by the end of March each year and report any subsequent amendments within five working days. The directive also designates a dedicated email address for submissions and explicitly repeals the previous 2015 circular on signatories.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (76/2021)
To all specialized lending institutions operating in Palestine
Date: Monday, March 29, 2021
Subject: Signatory List
Further to the requirements of Circular No. (2015/95) dated 25/06/2015 regarding Signatories; all specialized lending institutions must comply with the following:
-
Prepare and approve the institution's signatory list in accordance with the institution's approved financial and administrative authority matrix.
-
The list must include the signatories for the institution's board of directors and its senior management.
-
Provide the Palestine Monetary Authority with an annual, clear, legible, and official copy of the approved signatory list for the institution, no later than the end of March of each year.
-
Provide the Palestine Monetary Authority with any amendments to the approved signatory list, no later than five working days from the date of the amendment.
Please also provide us with an additional copy of the list via email: scdivision@pma.ps
Note: Circular No. (2015/95) regarding Signatories is hereby repealed.
Supervision Group
Palestine Monetary Authority
Footer Notes:
Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452
info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251
Gaza - Palestine P.O. Box 4026
Fax: +970 8 2844487 | Tel: +970 8 2827733
www.pma.ps