RegAlertRule · PMA · 23 Dec 2018
Circular No. 2018/270: Borrowers from the Student Loan Fund
The Palestine Monetary Authority issued Circular No. 2018/270 to direct all banks operating in Palestine to assist the Student Loan Fund in collecting outstanding debts from banking sector employees who are in default. The circular mandates bank administrations to instruct these defaulting borrowers to visit the fund immediately to begin settling their obligations, following a December 5, 2018 board decision prioritizing urgent debt recovery from private sector delinquents. This directive aims to support the educational financing system by ensuring timely repayment of student loans from government-regulated financial institutions.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2018/270)
To all banks operating in Palestine
Date: Sunday, December 23, 2018
Subject: Borrowers from the Student Loan Fund
Attached for your information is a letter from the Chairman of the Board of Directors of the Student Loan Fund for Higher Education Institutions in Palestine / His Excellency the Minister of Education and Higher Education, urging bank sector employees who are borrowers from the Student Loan Fund and are in default to settle their debts. Accordingly, please take the necessary measures to assist in implementing the contents of the letter from His Excellency the Minister of Education and Higher Education / Chairman of the Board of Directors of the Student Loan Fund for Higher Education Institutions.
Supervision and Inspection Department Palestine Monetary Authority
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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 Fax: +970 8 2844487 | Tel: +970 8 2825713
State of Palestine
Student Loan Fund for Higher Education Institutions in Palestine
Loan Fund for Undergraduate in Palestine
Reference No.: 1081
Date: December 9, 2018
Hijri Date: 2 / 04 / 1440 AH
His Excellency Mr. Azzam Al-Shawa, may God protect him, Governor of the Palestine Monetary Authority Greetings,
Borrowers among Private Sector Employees Working in Banks
The Student Loan Fund for Higher Education Institutions in Palestine extends its warmest greetings. Based on the Board of Directors' decision during its third meeting held on December 5, 2018, which mandates the immediate initiation of debt collection procedures for borrowers working in the private sector and in default of payments, including employees in the banking sector, we address Your Excellency with a request for assistance in collecting the debts of banking sector employees operating in Palestine; and to instruct the administrations of those banks to direct their employees to visit the Loan Fund to begin settling their outstanding debts.
We thank Your Excellency for your cooperation and support of the Loan Fund and the educational process in Palestine.
Please accept the highest assurances of respect and appreciation,
Dr. Sabri Saydam
Minister of Education and Higher Education Chairman of the Board of Directors of the Loan Fund
Copy: To the esteemed Deputy Minister for Higher Education Affairs.
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Ramallah – Ministry of Education and Higher Education – Yafa Building – Third Floor Tel: 02-2987210 | Fax: 02-2987219 Email: info@iqrad.edu.ps | Website: http://www.iqrad.edu.ps
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