Regulatory Alerts2023-01-01
Instructions No. (15) of 2023 Regarding the Sustainability (+) Fund
The Palestine Monetary Authority issued Instructions No. (15) of 2023 to establish a 500 million shekel Sustainability (+) Fund aimed at injecting liquidity into the Palestinian economy through targeted financing programs for recovery, healthcare, agriculture, and renewable energy. The regulations mandate licensed banks to allocate credit strictly to these sectors under defined ceilings, repayment terms, and a maximum 5% reducing interest rate, while prohibiting funding for personal loans, real estate, mergers, or projects outside Palestine. Banks must comply with strict credit assessment, environmental impact reporting, and monthly disclosure requirements, with the Authority retaining the right to freeze accounts and impose penalties for non-compliance.