Regulatory Alerts2017-01-01
Circular No. 254: Disclosure of Customer Data for Certain Private Sector Companies
The Palestine Monetary Authority issued Circular No. 254/2017 to mandate the disclosure of customer data for three designated private sector entities onto the national credit information system. Effective December 14, 2017, the Palestinian Development Fund, Farash International Agency for Cars Company, and Arab Financial Leasing Company must utilize their assigned system codes to report and exchange client information. This directive implements international credit information standards to mitigate credit and operational risks across the banking sector's facilities portfolios.
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