Regulatory Alerts2023-01-01
Circular No. 63: Early Repayment Commission on Facilities of Specialized Lending Institutions Licensed by the Palestine Monetary Authority
The Palestine Monetary Authority issued Circular No. 63/2023 requiring all banks operating in Palestine to suspend the collection of early repayment commissions on facilities provided by licensed specialized lending institutions. This suspension remains in effect until December 31, 2023, or until the regulator issues further instructions on the matter. The directive temporarily reduces borrower costs while the supervisory group evaluates the applicable fee structures.
[Logo of the Palestine Monetary Authority]
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (63 / 2023) To all banks operating in Palestine Date: Tuesday, March 14, 2023
Subject: Early Repayment Commission on Facilities of Specialized Lending Institutions Licensed by the Palestine Monetary Authority
With reference to the above subject, all banks are required to suspend the collection of the early repayment commission on facilities granted by specialized lending institutions licensed by the Palestine Monetary Authority until the end of 2023, or until new instructions are issued regarding this matter.
Supervisory Group Palestine Monetary Authority