Regulatory Alerts2022-01-01
Circular No. 110 Amendments to Credit Information Systems Regulations
The Palestine Monetary Authority issued Circular No. 115/2022 mandating comprehensive amendments to the Credit Information Systems to enhance risk management and data accuracy across all operating banks. The directive requires financial institutions to implement updated credit report formats, revised enterprise classification criteria based on employee count and sales volume, and expanded guarantor collateral fields, alongside strict two-phase data validation rules for monthly facility file submissions. Banks must fully adopt these structural and reporting modifications for all credit disclosures effective June 12, 2022, in alignment with newly defined borrower attributes and economic sector codes.
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