Regulatory Alerts2007-01-01
Circular No. 43 New Credit Inquiry Service
The Palestine Monetary Authority issued Circular No. 43/2007 to mandate updates and clarifications for banks participating in the new Credit Inquiry Service. The circular postpones the initial data submission deadline to allow for an extended trial period while introducing specific reporting requirements, including standardized currency codes, revised borrower and facility file structures, and precise disclosure rules for overdrafts, guarantees, and legal statuses. Banks are instructed to replace previous annex tables, adopt semi-monthly reporting per branch, and utilize designated text file formatting with semicolon delimiters and Windows Arabic encoding for all mandatory fields.
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