Regulatory Alerts2020-01-01
Palestine Monetary Authority Measures to Mitigate the Effects of the Health Crisis
The Palestine Monetary Authority issued Instruction No. (2020/5) to mitigate the economic impact of the COVID-19 health crisis on small and medium enterprises and the banking sector. The directive mandates a four-month postponement of monthly installments for all borrowers and a six-month postponement for tourism and hotel sector loans, while prohibiting lenders from charging fees or interest on deferred payments. Additionally, the instruction requires continued lending to essential sectors, directs new credit to SMEs and startups, guarantees full employee salary payments by lending institutions, and establishes round-the-clock coordination channels with financial stability officials.
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