Region

Jurisdiction

Regulator

2014-01-01

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.

Palestine

Palestine Monetary Authority

Palestine Monetary Authority

Circular No. (2014/30)

To lending institutions operating in Palestine Date: Wednesday, February 26, 2014

Subject: Classification of Public Sector Employees - Development of Credit Information System

Further to our Circular No. (2014/12) dated January 20, 2014, concerning the development of credit operations systems, and to Item One of the Development Items which stipulates the necessity for banks to review granted facility files at the customer level and reclassify borrowers according to the classifications provided in Annex No. (14) attached to the aforementioned circular, we hereby inform you of modifications to certain classifications of public sector borrowers included in the attached annex. Any sub-category not listed in the annex's categories shall be classified under the main category for public sector employees (3000).

Accordingly, all banks are requested to adopt the attached modifications and complete all required developments according to the action plan established for the development process. Please note that field visits will be conducted during the coming month to monitor banks' procedures regarding this matter and verify their readiness to comply with development requirements.

Public Relations Department - Market Officers Palestine Monetary Authority

Ramallah - Al Bireh P.O. Box 452 - Tel.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487 E-mail: info@pma.ps Ramallah - Al Bireh P.O. Box 452 - Tel.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487 www.pma.ps

Annex No. (14)

Borrower Status (Revised)


1000		.1 Companies
2000		.2 Government Institutions (Ministries, Municipalities and Local Councils, Governorates, etc.)
3000		.3 Public Sector Individuals (Government Employees)
	3001	• Police Directorate
	3002	• Preventive Security
	3003	• Civil Defense
	3004	• General Intelligence
	3005	• National Security
4000		.4 Private Sector Individuals (Private Sector Employees)
5000		.5 Institutions, Associations, Clubs, and Other Legal Entities Not Registered with the Companies Registrar/Registrar, Schools and Places of Worship, etc.)
6000		.6 Artisans, Freelancers, and Traders (Representing private sector individuals such as artisans, professionals, traders, engineers, doctors, lawyers, housewives, students, etc.)