Regulatory Alerts2014-01-01
Circular No. 2014/82: Developments to Version III of the Credit Information System
The Palestine Monetary Authority issued Circular No. 2014/82 mandating all lending institutions operating in Palestine to adopt Version III of the Credit Information System effective from its issuance date. The circular requires institutions to implement comprehensive amendments to input screens, credit reports, financial file structures, and disclosure mechanisms to enhance data accuracy, reduce credit risks, and align with international regulatory standards. Lending institutions must comply with the new demographic, financial, and collateral disclosure requirements, cease using the previous file structure, and ensure all outstanding facilities are reported according to the updated guidelines.
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