Regulatory Alerts2024-01-01
Instructions No. 1 of 2024 Regarding the Credit Portfolio of Specialized Lending Institutions
The Palestine Monetary Authority issued Instructions No. 1 of 2024 to regulate the credit portfolio of specialized lending institutions in response to current economic conditions. The instructions mandate the deferral of loan installments for Gaza residents until June 30, 2024, and allow for restructuring for West Bank borrowers, while prohibiting associated fees. Institutions are required to apply conservative Expected Credit Loss methodologies, report monthly on these measures, and limit consumer financing to support essential needs and developmental projects.
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