Regulatory Alerts2011-01-01
Circular No. 98/2011 Clarifications on Reporting Demographic Data for Housing and Mortgage Loans
The Palestine Monetary Authority issued Circular No. 98/2011 to provide detailed operational clarifications for lending institutions regarding the demographic data reporting requirements for housing and mortgage loans. The directive mandates precise formatting and valuation standards, including reporting outstanding loans as of the submission date, using the Authority's official exchange rates, calculating debt-to-income ratios in disbursement currency, and disclosing collateral values proportionally across multiple loans. It further specifies that settled loans, non-residential secured personal loans, and joint borrower income must be handled according to strict monthly financial file protocols and proportional allocation rules.
Share