Regulatory Alerts2020-01-01
Instructions No. 33 of 2020 Amending Instructions No. 22 of 2020 on the Small and Medium Enterprises Financing Program
The Palestine Monetary Authority issued Instructions No. 33 of 2020 to amend the Small and Medium Enterprises Financing Program regulations. This directive explicitly permits licensed banks, including Islamic banks, to grant tourism sector borrowers a grace period of up to twenty-four months on their financing. The amended provisions take effect immediately upon issuance and apply to all banking institutions licensed under the Ministry of Banking Affairs in Palestine.
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