Regulatory Alerts2024-01-01
Palestine Monetary Authority Instruction No. 1 of 2024 Amending Instruction No. 12 of 2023 on Financial Continuity of the National Economy
The Palestine Monetary Authority issued Instruction No. 1 of 2024 to amend the original financial continuity regulations by introducing specific measures for credit portfolios in the Gaza Strip. The directive mandates the deferral of loan installments for Gaza residents until April 30, 2024, with no interest or fees charged during this period. Borrowers are required to settle deferred amounts by May 15, 2024, or utilize alternative repayment options such as extending the loan term or using Islamic financing products.
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