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Palestinian Monetary Authority did not accredit the financials of Bank of Palestine

2008-03-18
The Palestinian Monetary Authority had notified the Capital Market Authority that the financial results for Bank of Palestine as of 31 Dec 2008 had not been accredited. The PMA indicated in the letter that had been directed to the CMA that the bank"s results are under study, where the PMA demanded the bank for illustrations regarding the sufficiency of the allowances and the profits that susceptive for distribution, noting that the bank did not apply for the CMA approval regarding granting free stock dividends, and further details will be supplied as soon as the results is accredited.