Regulatory Alerts2011-01-01
Circular No. 5/2011: Housing and Mortgage Loans Granted to Non-Residents
The Palestine Monetary Authority issued Circular No. 5/2011 to mandate all operating banks in Palestine to disclose housing and mortgage loans granted to non-residents. The directive requires financial institutions to utilize newly designated reporting items labeled "Outside Palestine" in Annexes 9 and 18 to categorize these loans according to updated demographic and geographical classification structures. Banks must integrate these specific disclosure items into their existing reporting frameworks in compliance with the Authority's established instructions and database requirements.
Palestine Monetary Authority
Palestine Monetary Authority
Circular No. (5/2011) To all banks operating in Palestine Date: Monday, June 20, 2011
Subject: Housing and Mortgage Loans Granted to Non-Residents
Further to the requirements for establishing a dedicated database for housing and mortgage loans, and with reference to our Circular No. (2011/66) dated April 25, 2011, concerning the demographic file structure for the aforementioned subject, and for the purpose of disclosing housing and mortgage loans granted to non-residents, please find attached the additional item in Annex No. (9) and No. (18) under the name (Outside Palestine), which has been designated for this purpose.
Accordingly, all banks are requested to disclose housing and mortgage loans granted to non-residents using these two items, in addition to other disclosure requirements as per the instructions.
Public Relations and Market Regulation Department Palestine Monetary Authority
Ramallah - Al Bireh P.O.Box 452 - Tel: 02-2409920 - Fax: 02-2409922 Gaza - P.O.Box 4026 - Tel: 08-2825713 - Fax: 08-2844487 E-mail: info@pma.ps www.pma.ps Ramallah - Al Bireh - P.O.Box: 452 - Tel: 02-2409920 - Fax: 02-2409922 Gaza - P.O.Box: 4026 - Tel: 08-2825713 - Fax: 08-2844487
Annex No. (9)
Property Zone According to Oslo
- The property zone, classified as follows:
| A | .1 The area under Palestinian Authority security and civil control |
| B | .2 The area under Palestinian Authority public order and Israeli military security responsibility |
| C | .3 The area under Israeli military security and civil control |
| F | .4 Outside Palestine |
Annex No. (18)
Geographical Zone of the Property
- The geographical zone of the property, classified as follows:
| 01 | .1 Jenin Governorate |
| 02 | .2 Tulkarm Governorate |
| 03 | .3 Salfit Governorate |
| 04 | .4 Qalqilya Governorate |
| 05 | .5 Nablus Governorate |
| 06 | .6 Ramallah and Al Bireh Governorate |
| 07 | .7 Jericho and the Jordan Valley Governorate |
| 08 | .8 Jerusalem Governorate |
| 09 | .9 Bethlehem Governorate |
| 10 | .10 Hebron Governorate |
| 11 | .11 North Gaza Governorate |
| 12 | .12 Central Governorate |
| 13 | .13 Gaza Governorate |
| 14 | .14 Khan Younis Governorate |
| 15 | .15 Rafah Governorate |
| 16 | .16 Tubas Governorate |
| 99 | .17 Outside Palestine |