Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (108/2016)
To all banks operating in Palestine
Date: Thursday, June 16, 2016

---

Subject: Amendment of Instructions No. 2016/5 Regarding Housing Loans and Real Estate Financing

Further to the Palestine Monetary Authority Instructions No. (2016/5) dated 6/6/2016, concerning the regulation of housing loans and mortgages, and with reference to Article (6), Clause (3) of the Instructions, please be informed that the text of the Article is amended as follows:

"Banks and specialized lending institutions may grant housing financing or a second mortgage to the same borrower, in accordance with the provisions of Article (3), and with a financing ratio exceeding 40% of the appraised value of the property, in the case of joint loans where one of the partners does not hold existing housing financing or a mortgage."

Accordingly, bank administrations are requested to disseminate this to the concerned parties, as the amendment shall take effect from its date.

---

Market Contraction Department
Palestine Monetary Authority

---

www.pma.ps

---

Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922 Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 Email: info@pma.ps