Regulatory Alerts2023-01-01
Instructions No. 12 of 2023 Regarding the Continuity of the Financial Cycle of the National Economy
The Palestine Monetary Authority issued Instructions No. 12 of 2023 to mandate banks to support the national economic cycle by restructuring credit portfolios, deferring loan payments, and prioritizing funding for productive sectors. The regulations impose strict requirements on asset quality monitoring, stress testing, and the provision of emergency liquidity, while prohibiting interest rate hikes and fees on restructured facilities. Additionally, the instructions enforce the suspension of fees for electronic transactions and checks in Gaza and require banks to maintain operational cash liquidity and digital banking services.
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