Regulatory Alerts2024-01-01
Instructions No. (2) of 2024 Amending Instructions No. (1) of 2024 Regarding the Credit Portfolio of Specialized Lending Institutions
The Palestine Monetary Authority issued Instructions No. (2) of 2024 to amend the credit portfolio regulations for specialized lending institutions, specifically extending debt relief measures for borrowers in Gaza until December 31, 2024. The directive mandates financial institutions to assess the solvency of borrowers in the West Bank for payment deferrals or restructuring and requires detailed quarterly reporting on these measures starting from the third quarter of 2024. These amendments ensure that loan classifications accurately reflect current financial risks and expected credit losses in compliance with ongoing monitoring requirements.
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