Regulatory Alerts2021-01-01
Circular No. 33/2021 Amendment of the Provision Schedule
The Palestine Monetary Authority issued Circular No. 33/2021 to require all specialized lending institutions operating in Palestine to complete and periodically submit an updated provision schedule that includes disclosures for court-referred loans and financing. This mandate reinforces compliance with Circulars 2020/37 and 2018/01 regarding quarterly reporting and the classification of scheduled, court-referred, restructured, and written-off exposures to enhance sector transparency and safety. Institutions must begin submitting the revised schedule starting at the end of the first quarter of 2021, with the updated template provided via email.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (33/2021)
To all specialized lending institutions operating in Palestine
Date: Wednesday, 17 February 2021
Subject: Amendment of the Provision Schedule
With reference to the above subject, and in the context of the Palestine Monetary Authority's efforts to maintain the safety of the specialized lending sector in Palestine and enhance the principles of transparency and disclosure, and based on the requirements of Circular No. (2020/37) regarding quarterly reports and the requirements of Circular No. (2018/01) regarding scheduled, court-referred, restructured (restructured or refinanced), and written-off loans/financing, all specialized lending institutions are required to complete the updated provision schedule (following the inclusion of disclosures related to court-referred loans and financing).
Reaffirming the commitment to comply with the relevant prevailing circular requirements, and to provide us with the aforementioned schedule periodically starting from the end of the first quarter of 2021, the amended schedule will be sent to you via email: scdivision@pma.ps
Supervision Group
Palestine Monetary Authority
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251
Gaza - Palestine P.O. Box 4026
Gaza - Palestine P.O. Box 4026
Fax: +970 8 2844487 | Tel: +970 8 2825713