Regulatory Alerts2014-01-01
Circular No. 11: Development of the Credit Information System (Version 3)
The Palestine Monetary Authority issued Circular No. 11 to mandate the development of the Credit Information System (Version 3), requiring banks to update their systems to align with new international best practices and enhanced data reporting standards. The directive outlines specific technical modifications, including detailed borrower classification, granular disclosure of guarantees, and precise definitions for outstanding balances and credit limits. Banks are required to implement these changes and complete all necessary system adjustments by the end of April 2014.
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