Regulatory Alerts2018-01-01
Circular No. 129/2018: Providing Customers with Loan Documents and Loan Data Summary
The Palestine Monetary Authority issued Circular No. 129/2018 to address persistent customer complaints regarding the failure of specialized lending institutions to provide borrowers and guarantors with signed contracts and financing data summaries. The directive mandates that all lending institutions operating in Palestine must supply certified copies of all loan-related contracts and documents, alongside the standardized credit/financing data summary forms attached to the circular. This requirement enforces compliance with the Responsible Lending Instructions No. (2016/02) dated March 20, 2016, ensuring full documentation transparency for all credit facilities.
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