2019-01-01

Lending-2019- Circular No. 174 Amendments to Version IV of the Credit Information System

The Palestine Monetary Authority issued Circular No. 137/2019 to mandate amendments to Version IV of the Credit Information System based on user feedback and prior directives. The updates modify the record opening screen by removing specific installment fields for overdrafts, loans, and credit cards, while enhancing the financial data modification screen to allow demographic data entry for housing, mortgage, and SME loans. Additionally, the facility file structure was streamlined to two-digit institution and branch codes, and new non-mandatory demographic fields were added for resident individuals, non-resident individuals, and corporate entities, with all new fields becoming mandatory upon the launch of the Banking Accounts System between July 11 and 13, 2019.

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Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (137/2019)

To all lending institutions operating in Palestine Date: Tuesday, 09 July, 2019

Subject: Amendments to Version IV of the Credit Information System

Continuing the development processes for the Credit Information System, and based on user feedback regarding Version IV of the system, and in reference to our previous circulars: Memorandum No. (2009/26) dated 26/05/2009, Design No. (2014/182) dated 17/12/2014, and Design No. (2016/53) dated 29/03/2016, please find below the key amendments made to Version IV (Version IV) of the Credit Information System. The amendments cover the following items:


First: Amendments to the Record Opening Screen:

  • Modification of the field structure based on the registration type, where the field structure for certain facility types has been removed, specifically:
    • Overdraft F003: The field structure has been removed for the following items: Number of installments, installment type, installment amount, due date of the last installment.
    • Loans/Advances F005: The field structure has been removed for the following items: Number of installments, installment type, installment amount, due date of the last installment.
    • Credit Cards F015: The field structure has been removed for the following items: Number of installments, installment type, installment amount.

Second: Amendments to the Financial Data Modification Screen:

  • The financial data modification screen has been updated to allow users to add demographic data for housing and mortgage loans, as well as small and medium enterprise (SME) loans, through the financial data modification screen if this data was not previously entered by the bank.
  • Facility Repayment: The characteristics of the repayment process have been modified to reduce the following items (Granted Moratorium, Utilized Balance, Unpaid Due Installments).

Third: Amendment to the Financial Facility File Structure (TXT.File)

Due to the increased number of private sector companies benefiting from the credit systems at the Palestine Monetary Authority, efforts have been made to expand the fields for bank numbers, lending institution numbers, and private sector company numbers. Accordingly, the financial facility file has been amended as follows:

  • Item 7 in the facility file structure, "Institution Number", has been modified to consist of only two digits. For example, previously the institution number was declared as "0100", whereas currently only "01" should be declared.
  • Item 8 in the facility file structure, "Branch Number", has been modified to consist of only two digits. For example, previously the branch number was declared as "0112", whereas currently only "12" should be declared.

Fourth: Amendment to the Demographic Data Screen (Customer Data)

Continuing development processes and in preparation for the upcoming launch of the Banking Accounts System, the customer data screen has been amended and new fields have been added to enrich the demographic database for customers, as follows. Please note that all these items are currently non-mandatory until the launch of the Banking Accounts System, and will become fully mandatory after its launch.

Demographic Data Added to the Resident Individuals File:

SurnameCountry
Other Income SourcesGovernorate
Email AddressCity
Education LevelP.O. Box Number
Postal CodeFax Number
Mobile Phone NumberOther Nationalities
Social Security Number

Demographic Data Added to the Non-Resident Individuals File:

Passport Expiry DatePassport Issuing Place
SurnamePassport Expiry Date
Other Income SourcesGovernorate
Email AddressCity
Education LevelP.O. Box Number
Postal CodeFax Number
Mobile Phone NumberOther Nationalities
Social Security NumberCountry

Demographic Data Added to the Companies/Entities/Institutions File:

Email AddressTrade Name
CountryCompany President/CEO Name
GovernorateTax Identification Number
CityAnnual Profit
Fax NumberAnnual Income
P.O. Box NumberLegal Form
Number of Company Branches

Accordingly, the Palestine Monetary Authority hopes that bank administrations will disseminate this circular to system users to inform them of these developments and facilitate their tasks. We also wish to inform you that the systems will be suspended from 15:00 on Thursday, 11 July 2019, until the evening of Saturday, 13 July 2019.


Market Supervision Department
Palestine Monetary Authority


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