Regulatory Alerts2019-01-01
Instructions No. 05 Regarding the Rescheduling of Facilities and Financing Granted in the Southern Governorates
The Palestine Monetary Authority issued Instructions No. 05 to amend rescheduling conditions for banking facilities and financing granted to public sector employees in the Southern Governorates. The directive permits banks to waive down payment requirements for first, second, or third reschedulings and allows temporary acceptance of real estate collateral changes for up to five years, valid until the end of 2019. Additionally, banks are authorized to adjust repayment periods based on employee income and may refrain from classifying these loans provided debts are rescheduled proportionally to current earnings.
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