Regulatory Alerts2014-01-01
Circular No. 54 Amendment of Credit Inquiry Fees
The Palestine Monetary Authority issued Circular No. 54/2014 to amend the pricing policy for credit inquiry fees charged to banks for successful inquiries. The revised policy imposes a $2 fee per successful inquiry up to a monthly cap of 2,000 operations per bank, charges $1.50 for any inquiries exceeding that cap, and applies a $700 monthly subscription fee to banks falling below the new minimum threshold of 466 successful inquiries. The circular explicitly prohibits banks from passing these fees to customers or guarantors, grants fee exemptions for inquiries yielding no credit data, and mandates implementation starting June 1, 2014.
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