2014-01-01

Circular No. 53: Development of the Credit Information System Version III - Lending - 2014

The Palestine Monetary Authority issued Circular No. 53/2014 mandating all lending institutions operating in Palestine to implement Version III of the Credit Information System by adding specific monthly income, currency, and enterprise asset fields to borrower and SME facility records. Institutions must adopt these modifications for new credit records and submit designated Excel files containing migrated personal and financial data for existing facilities to ensure accurate risk monitoring and credit decision-making. Compliance is required by April 24, 2014, following a scheduled coordination meeting with responsible institutional teams to oversee the development rollout.

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Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (53/2014)

To All Lending Institutions Operating in Palestine

Date: Monday, April 14, 2014

Subject: Development of the Credit Information System (Version III)

In reference to our Circular No. (2014/12) dated January 20, 2014, concerning the development of credit operations systems, and to Item One regarding the description of the most important system development components, and with the aim of providing accurate data to the Palestine Monetary Authority regarding credit extended by the banking sector and lending institutions to assist it in monitoring and managing credit risks, and to assist the banking sector and lending institutions in making credit decisions, we hereby inform you that the following development items required from lending institutions have been added:

  • Addition of the total monthly income and income currency fields to the personal data of borrowers according to Forms No. (3) and No. (4) attached to the Circular.
  • Modification of personal data related to facilities granted to small and medium-sized enterprises (SMEs) by adding the following fields according to Form No. (5) attached to the Circular:
    • The enterprise geographic classification field (City 01, Town 02, Village 03) based on Annex No. (15) attached to the Circular.
    • Addition of the enterprise owner's ID/Passport number and nationality in cases where facilities are granted under the enterprise registration number.
    • Addition of the total enterprise assets item valued in the currency of disbursement.

All lending institutions are requested to adopt the above modifications, which will be implemented on the developed system through credit record opening operations for new facilities. As for existing facilities (Version III), coordination will be conducted with you to provide us with the following:

  • An Excel file containing the ID number, document number, nationality, registration number, and additional data (income, income currency) related to borrowers' personal data, to be migrated by us to existing facilities.

  • Another Excel file specific to small and medium-sized enterprises containing the ID number, document number, nationality, registration file number, and personal data (enterprise geographic classification, enterprise owner's ID number, total enterprise assets) to be migrated by us to the personal files of facilities granted to SMEs.

Accordingly, we hope that all required developments will be completed according to the action plan established for the development process. Please note that a meeting has been scheduled for Thursday, April 24, 2014, at 9:30 AM with the teams responsible at lending institutions for monitoring the progress of the development process stages.

Thank you for your cooperation,

Public Relations and Market Discipline Department Palestine Monetary Authority


Annex No. (15)

Enterprise Geographic Classification

01City1.
02Town2.
03Village3.

Description of Resident Borrowers File

Form No. (3)

Field NameNoteSeq
ID NumberID Number (for resident borrower).1
Customer’s NameFull four-part name as stated on the ID card.2
GenderGender 1 Male 2 Female.3
Marital StatusMarital Status 1 Single 2 Married 3 Divorced 4 Widowed.4
Date of BirthDate of birth in English numerals in the format (dd/mm/yyyy).5
Place of BirthPlace of birth.6
Spouse’s NameSpouse's name.7
Mother’s NameMother's name.8
Current AddressCurrent address.9
Previous AddressPrevious address.10
Phone Number/ cellularHome/cellular phone number.11
ProfessionBorrower's profession.12
Spouse’s ProfessionSpouse's profession.13
Borrower TypeBorrower type/status.14
Borrower's IncomeMonthly income of the borrower.15
Income currencyIncome currency.16

Description of Non-Resident Borrowers File

Form No. (4)

Field NameNoteSeq
Passport NumberPassport number.1
NationalityNationality according to the international country code.2
Customer’s NameFull name as stated in the passport in Arabic letters.3
Date of BirthDate of birth in English numerals in the format (dd/mm/yyyy).4
Place of BirthPlace of birth.5
Date of IssuePassport issue date in English numerals in the format (dd/mm/yyyy).6
Place of IssuePassport issue place.7
GenderGender 1 Male 2 Female.8
Marital StatusMarital Status 1 Single 2 Married 3 Divorced 4 Widowed.9
Spouse’s NameSpouse's name.10
Mother’s NameMother's name.11
Current AddressCurrent address.12
Previous AddressPrevious address.13
Phone Number/cellularHome/cellular phone number.14
ProfessionBorrower's profession.15
Spouse’s ProfessionSpouse's profession.16
Borrower TypeBorrower type/status.17
Social Security NoSocial Security Number / National ID.18
Borrower's IncomeMonthly income of the borrower19
Income currencyIncome currency20

Description of SME File

Form No. (5)

Field NameField NameSeq.
ID NumberID Number/ Passport/ Company/ Entity Registration1.
ID TypeDocument Type: Specify the type of document held by the borrower according to the classifications in Annex No. (01)2.
NationalityNationality of the borrowing customer according to the passport type held according to the classifications in Annex No. (02)3.
Facility File NumberFacility file number4.
Bank codeBank code: Lender bank number according to the classifications in Annex No. (03)5.
Owner’s genderEnterprise owner's gender according to the classifications in Annex No. (04)6.
Financing PeriodFinancing period7.
Percentage of Guarantee CoverageLoan guarantee percentage from loan guarantee institutions8.
Interest Rate PercentageInterest rate9.
Interest TypeInterest type according to the classifications in Annex No. (05)10
Monthly Net IncomeMonthly return/average monthly income in income currency11
Income currencyIncome currency according to the classifications in Annex No. (06)12
Insurance on the Assets of EnterpriseInsurance on enterprise assets according to the classifications in Annex No. (07)13
Number of Full Time EmployeesNumber of full-time workers14
Number of Part Time EmployeesNumber of part-time workers15
Capital of The EnterprisesEnterprise capital value16
Capital currencyCapital currency17

Annual SalesAnnual sales rate according to the classifications in Annex No. (06)18
Purpose of the LoanPurpose of financing according to the classifications in Annex No. (08)19
Loan Distribution by PurposeInvestment percentage in the financing purpose according to the classifications in Annex No. (08)20
Enterprises RegistrationEnterprise registration location according to the classifications in Annex No. (09)21
Type of the Enterprises ownershipEnterprise ownership type according to the classifications in Annex No. (10)22
Enterprise setup in terms of ProfitProject classification by profitability according to the classifications in Annex No. (11)23
Economic sectorEconomic sector according to the classifications in Annex No. (13)24
Legal ProceduresLegal procedure according to the classifications in Annex No. (14)25
Total AssetsTotal enterprise assets (in disbursement currency)26
Enterprise Geographic classification (City, Town, Village)Enterprise geographic classification27
Owner's ID NumberEnterprise owner's ID/Passport number28
Owner's NationalityEnterprise owner's nationality29