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Demands for adjusting the banking law and omitting some articles related to monetary authority role.

2008-02-10

A study by "Economic policies studies institute" regarding “The effect of implementing banking law on private sector’s competitiveness”, intensified on the necessity of adjusting many law’s articles pointing out to take these modifications into consideration in the suggested modified law by the monetary authority. The study clarified during a workshop organized by the institute in Ramallah that the banking law must include articles related to the possibility of establishing specialized development banks. Also the study cleared out the importance of including a clear signals regarding the privacy of the micro financing institutions, pointing out to the necessity of omitting some articles that related to the role of the monetary authority which give a wide authorizations to intervene in the banking system structure, and explained that the law must add articles that guarantee to activate everything relate to establishing deposit security institutions, and organize the electronic system related issues, and depend on the electronic data as the proof in banking court cases.