Regulatory Alerts2015-01-01
Circular No. 55 (2015) Declaration of Income Value in the Monthly File
The Palestine Monetary Authority issued Circular No. 55 (2015) to mandate that all lending institutions operating in Palestine accurately declare customer income values and currency types in their monthly credit information files. This directive addresses widespread non-compliance with Circular No. (2014/183) regarding the accuracy and completeness of borrower demographic and financial data entry. Institutions must immediately review and correct these records, as continued failure to comply will result in appropriate legal enforcement actions.
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