Regulatory Alerts2015-01-01
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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