Regulatory Alerts2020-01-01
Instructions No. 24 of 2020 Regarding the Postponement of Monthly Installments During the Health Crisis
The Palestine Monetary Authority issued Instructions No. 24 of 2020 to mandate specialized lending institutions to offer borrowers two repayment options for installments postponed during the health crisis: early repayment without early-termination fees, or amortization of the deferred amounts over the remaining loan term. These measures explicitly override conflicting provisions in the Authority's 2016 Responsible Lending Instructions to ensure consumer flexibility. All relevant entities must enforce these provisions effective immediately upon issuance on June 30, 2020.
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