Regulatory Alerts2016-01-01
Circular No. 108 Amending Instructions No. 5-2016 Regarding Housing Loans and Real Estate Financing
The Palestine Monetary Authority issued Circular No. 108/2016 to amend Instructions No. 2016/5 governing housing loans and real estate financing. The revision authorizes banks and specialized lenders to extend housing financing or a second mortgage to the same borrower at a ratio exceeding 40% of the property's appraised value, applicable to joint loans where one partner holds no existing housing financing or mortgage. Bank management must promptly circulate this amendment to all relevant departments for immediate implementation.
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