Regulatory Alerts2015-01-01
Circular No. 14/2015: Borrower Guarantee for Personal Facilities
The Palestine Monetary Authority issued Circular No. 14/2015 to prohibit lending institutions from reporting borrowers as guarantors for their own personal facilities, a practice that violates loan agreements and distorts credit data. The directive mandates the immediate deletion of all self-guarantee entries from the Credit Information System to correct inaccurate borrower classifications. Institutions must enforce strict compliance across all relevant departments or face legal action to preserve the integrity of national credit reporting outputs.
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