Regulatory Alerts2020-01-01
Circular No. 2020/145: Annual Cost of Borrowing Program
The Palestine Monetary Authority issued Circular No. 2020/145 to mandate that all specialized lending institutions integrate their Annual Cost of Borrowing Program into the unified Credit Bureau Information Systems (CBIS) platform. The circular requires institutions to grant specific system access rights to designated staff, enforce strict compliance with updated calculation instructions, and utilize the new software interface to accurately compute and report borrowing costs to customers. Failure to input consistent data will trigger system warnings, and institutions must print and deliver detailed reports containing loan specifics, cost breakdowns, and disclaimers to borrowers.
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