Regulatory Alerts2022-01-01
Instructions No. 2 of 2022 Regarding the Protection of Customer Rights
The Palestine Monetary Authority issued Instructions No. 2 of 2022 to establish comprehensive regulations for the protection of customer rights within specialized lending institutions. The directives mandate strict limits on debt-to-income ratios, enforce transparent pricing and disclosure standards, and prohibit unfair practices such as excessive late fees or mandatory cross-selling. Additionally, the rules define clear procedures for handling customer complaints, data privacy, and post-disbursement obligations to ensure responsible lending and accountability.
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