Regulatory Alerts2017-01-01
Circular No. 67: Disclosure of Lease for You Financial Leasing Services Company Data in the Credit Report
The Palestine Monetary Authority requires all operating banks to disclose Lease for You Financial Leasing Services Company data on the national credit information system effective April 5, 2017. This directive assigns the code LEASEF97 for reporting and exchanging borrower information to mitigate credit and operational risks across banking and lending portfolios. Institutions must immediately integrate this new data disclosure into their standard credit reporting procedures.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (67/2017)
To all banks operating in Palestine
Date: Wednesday, April 05, 2017
Subject: Disclosure of Lease for You Financial Leasing Services Company Data in the Credit Report
To enrich the credit information system database and mitigate credit and operational risks in the portfolio of facilities provided by the banking sector and lending institutions, we hereby inform you that the disclosure of Lease for You Financial Leasing Services Company data on the credit information system will commence effective 2017/4/5. A dedicated code (LEASEF97) has been assigned for the company's use in disclosing and exchanging data regarding its borrowers.
Market Supervision Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 28292 | Fax: +970 8 2844487
Email: info@pma.ps | www.pma.ps
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 28292 | Fax: +970 8 2844487
Email: info@pma.ps