Regulatory Alerts2021-01-01
Circular No. 156: Providing Borrowers and Guarantors with Copies of Documents Signed by Them
The Palestine Monetary Authority mandates that all banks operating in Palestine must provide borrowers and guarantors with an original or certified copy of all contracts and documents they sign. This directive responds to public complaints regarding bank branches withholding signed paperwork and reinforces compliance with the Authority's 2016 Responsible Lending instructions. Banks are required to formally document the handover of these documents regardless of pending litigation or signing dates, with legal action to be taken against non-compliant institutions.
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