Regulatory Alerts2017-01-01
Instructions No. 3 of 2017 Regarding Credit Reports
The Palestine Monetary Authority issued Instructions No. 3 of 2017 to mandate that all commercial, Islamic, and specialized lending institutions provide customers with their credit reports and a formal objection process upon written request. The directive establishes strict identity verification protocols, standardized fee structures (10 shekels for printing plus 5 shekels for the Authority), and a five-day resolution window for disputed data, while guaranteeing one free annual report and free reprints after corrections. It repeals prior 2011 directives and takes effect on February 5, 2017, to enhance transparency and consumer protection in the Palestinian financial sector.
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