RegAlert
2015-01-12

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Circular No. 3 Annual Report Requirements for Local Banks

The Palestine Monetary Authority issued Circular No. 3/2015 to mandate local banks to submit their 2014 final financial statements and annual report drafts by February 28, 2015, utilizing newly attached templates and updated minimum disclosure requirements. The directive aligns with previous 2010 instructions and recent regulatory developments, requiring prior PMA approval before banks finalize and print their annual reports. It simultaneously repeals Circular No. 2010/140 dated December 30, 2010, to consolidate reporting standards for both commercial and Islamic banks.

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Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (3 / 2015)

To all banks operating in Palestine

Date: Monday, January 12, 2015

Subject: Annual Report Requirements for Local Banks

Final Statements Templates

Further to Instructions No. (2010/03) dated 11/05/2010 regarding the minimum disclosure requirements for final financial statements to be complied with, and in line with the latest amendments and related developments, we attach the following:

  1. Minimum disclosure requirements for the annual reports of local banks.
  2. Final statements template for commercial banks.
  3. Final statements template for Islamic banks.

All banks are requested to comply with submitting the final financial statements for the year 2014 to the Palestine Monetary Authority according to the aforementioned templates by no later than 28/02/2015, in addition to providing us with a draft of the annual report for local banks prior to its printing to obtain the prior approval of the Palestine Monetary Authority for its issuance.

The implementation of Circular No. (2010/140) dated 30/12/2010 is hereby repealed effective from this date.

Supervision and Inspection Department
Palestine Monetary Authority

www.pma.ps

Ramallah - Palestine P.O. Box 452 | Phone: +970 2 2415250 | Fax: +970 2 2409922 | Email: info@pma.ps Gaza - Palestine P.O. Box 4026 | Phone: +970 8 2825292 | Fax: +970 8 2844487 | Email: info@pma.ps

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Lineage: Amended

Instructions No. 3 of 2010 Rega…2010Instructions No. 3 of 2010 Regarding Financial Statements and the General Assembly of Banks (2010-05-11)FEPD Instruction No. 3 dated 20…FEPD Instruction No. 3 dated 2010-05-11Circular No. 140 dated 2010-12-…Circular No. 140 dated 2010-12-30FEPD Circular No. 140 dated 201…FEPD Circular No. 140 dated 2010-12-30Circular No. 3 Annual ReportRequirements for Local Banks2015-01-12 · this documentCircular No. 3 Annual Report Requirements for Local Banks (2015-01-12)Circular No. 3 Minimum Disclosu…2016Circular No. 3 Minimum Disclosure Requirements in the Annual Report (2016-01-11)
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Amended 1 time · last 2016-01-11

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Source: Palestine Monetary Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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