Regulatory Alerts2017-07-16
Added · Updated
Circular No. 142 Non-Profit Specialized Lending Companies
The Palestine Monetary Authority requires all banks operating in Palestine to classify deposits resulting from loan collections by non-profit specialized lending companies as exempt from standard financing regulations. This directive implements Article Two of the Cabinet Decision dated April 21, 2016, which establishes the approval mechanism for non-profit entities to obtain donations, grants, and funding. Banks must therefore process these specific deposits in strict compliance with the regulatory exemption granted to non-profit specialized lending operations.
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