Regulatory Alerts2021-01-01
Circular No. 33/2021 Amendment of the Provision Schedule
The Palestine Monetary Authority issued Circular No. 33/2021 to amend the mandatory provision schedule for specialized lending institutions operating in Palestine. The directive requires all institutions to update the schedule to include disclosures for court-referred loans and financing, aligning with previous circulars on quarterly reporting and rescheduled or non-performing assets. Institutions must submit the revised schedule periodically starting from the end of the first quarter of 2021 via the designated supervisory email address.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (33/2021)
To all specialized lending institutions operating in Palestine
Date: Wednesday, 17 February 2021
Subject: Amendment of the Provision Schedule
With reference to the above subject, and in line with the Authority's efforts to maintain the safety of the specialized lending sector in Palestine and enhance transparency and disclosure principles, and based on the requirements of Circular No. (2020/37) regarding quarterly reports and Circular No. (2018/01) regarding rescheduled, court-referred, restructured (restructured or refinanced), and non-performing loans/financing, all specialized lending institutions are required to complete the updated provision schedule (following the inclusion of disclosures related to court-referred loans and financing).
Reiterating the commitment to comply with the relevant prevailing circular requirements, and submitting the aforementioned schedule periodically starting from the end of the first quarter of 2021, the amended schedule will be sent to you via email: scdivision@pma.ps
Supervision Group
Palestine Monetary Authority
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452
Ramallah & 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
Gaza - Palestine P.O. Box 4026
Fax: +970 8 2844487 | Tel: +970 8 2825713