Regulatory Alerts2019-01-01
Instructions No. 5 of 2019 on Scheduling Facilities and Funds Granted in the Southern Governorates
The Palestine Monetary Authority issued Instructions No. 50 of 2019 to amend banking regulations regarding the scheduling of facilities and financing granted to public sector employees in the Southern Governorates. The directive permits licensed banks to waive down payment requirements for first, second, and third schedule restructurings and allows them to refrain from classifying these loans as non-performing, provided repayments align with borrowers' current incomes. Additionally, the instructions temporarily extend the acceptance of real estate collateral for restructured facilities in the region until the end of 2019, overriding conflicting prior provisions and remaining effective until further regulatory action.
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