Circular No. 252 Structuring or Rescheduling of Financings Funded by the Istidama Fund

---

Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY

Circular No. (252/2023)
To all banks operating in Palestine
Date: Thursday, December 14, 2023

Subject: Structuring or Rescheduling of Financings Funded by the Istidama Fund.

Given the prevailing current conditions and the impact on beneficiaries of the Istidama Fund by the current economic situation, or the likelihood that they will be affected, all banks operating in Palestine must comply with the following:

1. Not increasing interest rates or profit rates above what they were prior to the restructuring or rescheduling, upon signing a credit restructuring or rescheduling agreement.
2. It is prohibited to collect any commissions or fees on a credit restructuring or rescheduling agreement.
3. Re-crediting any amounts, including interest or profits, commissions, and fees, that were deducted from customers' accounts since October 25, 2023, for financings that have been rescheduled or restructured.

Supervisory Group
Palestine Monetary Authority

--- www.pma.ps
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Postal Code: P6160675 | Phone: +970 2 2415251 | Tel: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps

---