Regulatory Alerts2019-01-01
Circular 25 Compliance with Monthly Financial Data Closing Requirements
The Palestine Monetary Authority mandates that all specialized lending institutions operating in Palestine strictly comply with the monthly financial data closing requirements outlined in Circular No. (2018/101). Institutions must finalize their monthly financial statements by the end of the third working day of the subsequent month to ensure alignment with international accounting standards and maintain the accuracy of income and financial position reports. This directive reinforces prior supervisory follow-ups and addresses recent non-compliance by emphasizing the critical role of timely monthly closures in regulatory oversight.
Share