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2021-01-01

Circular 76/2021: List of Authorized Signatories

The Palestine Monetary Authority issued Circular 76/2021 requiring all specialized lending institutions in Palestine to prepare, approve, and submit a list of authorized signatories that aligns with their internal financial and administrative authority matrices. Institutions must deliver hard and official copies of the approved list to the regulator by the end of March annually, notify the authority of any amendments within five working days, and provide an additional copy via email. This directive supersedes and repeals the previous 2015 circular governing authorized signatories.

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Palestine Monetary Authority

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Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (76/2021)
To all specialized lending institutions operating in Palestine
Date: Monday, March 29, 2021

Subject: List of Authorized Signatories

Further to the requirements of Circular No. (2015/95) dated 25/06/2015 regarding Authorized Signatories, all specialized lending institutions must comply with the following:

  1. Prepare and approve the institution's list of authorized signatories in accordance with the institution's approved financial and administrative authority matrix.
  2. The list must include the authorized signatories for the institution's board of directors and its senior management.
  3. Provide the Palestine Monetary Authority with a hard copy and an official copy of the approved list of authorized signatories for the institution, no later than the end of March of each year.
  4. Notify the Palestine Monetary Authority of any amendments to the approved list of authorized signatories, within five working days from the date of the amendment.

We kindly request that you also send a copy of the list via email to: scdivision@pma.ps

Note: Circular No. (2015/95) regarding Authorized Signatories is hereby repealed.

Supervision Group
Palestine Monetary Authority

www.pma.ps
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 2837777

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