Regulatory Alerts2019-01-01
Circular No. 220 of 2019 Regarding Interest Rates and Fees Charged
The Palestine Monetary Authority mandates all specialized lending institutions operating in Palestine to submit periodic statements detailing the interest/yield rates and fees/commissions charged for their services. This directive, issued under Presidential Decree No. 132 of 2011, requires institutions to align these disclosures with quarterly reports to ensure sector stability and enhance consumer protection. Completed disclosure schedules must be transmitted to the Authority's Supervision and Inspection Department via both postal mail and the designated email address.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2019/220)
To all specialized lending institutions operating in Palestine
Date: Wednesday, September 11, 2019
Subject: Interest/Yield Rates and Fees/Commissions Charged
Pursuant to the provisions of Presidential Decree No. (132) of 2011 concerning the licensing and supervision system for specialized lending institutions, and within the framework of the Authority's efforts to maintain the stability and integrity of the specialized lending sector in Palestine, and to enhance the social mission regarding consumer protection among sector institutions; all specialized lending institutions are required to provide us with a statement detailing the interest/yield rates and fees/commissions charged for the services provided by the institution, in accordance with the attached schedule, on a periodic basis concurrent with the quarterly reports.
The required statement shall be sent via postal mail and through the email address: scdivision@pma.ps
SUPERVISION AND INSPECTION DEPARTMENT PALESTINE MONETARY AUTHORITY
Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251 Gaza - Palestine P.O. Box 4026 Fax: +970 8 2844487 | Tel: +970 8 2825713
Annex (1) Regarding Interest/Yields:
| Outstanding Amount | Number of Beneficiary Customers | Branch | Currency | Interest Calculation Mechanism (Floating/Fixed) | Interest/Yield Rate | Savings and Financing Products |
|---|---|---|---|---|---|---|