Law No. (6) of 2021 Amending Law No. (9) of 2010 Concerning Banks

mjr.lab.pna.ps Office of Fatwa and Legislation | Reference No.: 3-2021 | Issue No. 24 | Date: 2021/03/02

Law No. (6) of 2021 Amending Law No. (9) of 2010 Concerning Banks

President of the State of Palestine Chairman of the Executive Committee of the Palestine Liberation Organization

Based on the Basic Law of the Palestine Liberation Organization, and the Amended Basic Law of 2003 and its amendments, after reviewing Law No. (9) of 2010 concerning Banks, and Law No. (2) of 1997 concerning the Palestinian Monetary Authority and its amendments, based on the proposal of the Council of Ministers dated 2021/02/01, and upon the powers delegated to us, in the public interest, and achieving [the aforementioned objectives], we have issued the following Law Decree:

Article (1) Paragraph (3) of Article (32) of Law No. (9) of 2010 concerning Banks is amended by adding a new item bearing the letter (t), as follows: t. The Palestinian Monetary Authority shall have the right to disclose, declare, and exchange information relating to the classification of bank customers under the automated check return system, and to exchange such information between banks, credit institutions, and any other entities approved by the Monetary Authority pursuant to instructions issued by the Council.

Article (2) All provisions inconsistent with this Law Decree are hereby repealed.

Article (3) All competent authorities shall each implement the provisions of this Law Decree within their respective jurisdictions, and it shall take effect from the date of its publication in the Official Gazette.

Issued in Ramallah on: 2021/02/25 Gregorian Corresponding to: 13 Rajab 1442 Hijri

Mahmoud Abbas President of the State of Palestine Chairman of the Executive Committee of the Palestine Liberation Organization