Regulatory Alerts2012-01-01
Circular No. 3 (2012) Disclosure of Housing and Mortgage Loans
The Palestine Monetary Authority issued Circular No. 3 (2012) to mandate strict accuracy in reporting the specific interest rate types applied to housing and mortgage loans. All lending institutions must now explicitly disclose the exact interest rate structure in their regulatory files precisely as defined in the signed borrower credit contracts. Non-compliance with this mandatory disclosure requirement will result in the imposition of statutory financial penalties.
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