Regulatory Alerts2014-01-01
Lending-2014- Circular No. 30 Classification of Public Sector Employees - Development of Credit Information System
The Palestine Monetary Authority issued Circular No. (2014/30) to mandate lending institutions operating in Palestine to adopt revised classifications for public sector borrowers within their credit information systems. Banks are required to implement these updated borrower status codes, including specific sub-categories for police, security, and defense personnel, while ensuring all unlisted public sector roles default to the main public sector employee code (3000). Compliance will be verified through upcoming field inspections to confirm that all necessary system developments and operational adjustments are fully executed according to the established action plan.
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