Regulatory Alerts2022-01-01
Circular No. 160: Disclosure of Public Sector Employees' Credit Status Assessment on the Credit Information System
The Palestine Monetary Authority requires banks to report the Customer Status Assessment (MOP) for public sector employees receiving partial salary transfers as Assessment (2) in their monthly credit information files. Banks must additionally disclose outstanding installment obligations for these employees as equivalent to a single installment of their granted facility until regular salary disbursements resume. This measure prevents adverse effects on the employees' credit classifications and safeguards the continuity of their banking transactions.
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (60/2022) To all banks operating in Palestine Date: Tuesday, July 26, 2022
Subject: Disclosure of Public Sector Employees' Credit Status Assessment on the Credit Information System
In light of the continued partial salary transfers to some public sector employees, and with the Palestine Monetary Authority's commitment to preventing any negative impact on their credit classification—which could affect the processing of their banking transactions—you are requested to instruct the relevant parties at your bank to disclose the Customer Status Assessment (MOP) for public sector employees in the monthly file during the period of irregular salary payments as Assessment (2), and to disclose the item for outstanding unpaid installment values equivalent to only one installment of the facility granted to employees whose full salary has not been transferred, until salary payments resume regularly.
Financial Stability Group Palestine Monetary Authority
www.pma.ps Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Tel: +970 2 2415251 | Fax: +970 2 2415310 Gaza - Palestine P.O. Box 4026 Tel: +970 8 2825713 | Fax: +970 8 2844487