Regulatory Alerts2022-01-01
Lending-2022- Circular No. 177 Collateral Documents for Loans - Financing Granted to Customers
The Palestine Monetary Authority mandates all specialized lending institutions operating in Palestine to promptly return all collateral documents, including checks and promissory notes, to borrowers and guarantors upon full settlement of their loan or financing obligations. This directive addresses recent complaints regarding banks' refusal or delay in returning such documents, which the regulator deems contrary to fairness principles. Institutions must strictly comply with this requirement to ensure transparent and equitable treatment of all clients.
Share