Palestine Monetary Authority

Instructions No. (10/2011)

To all banks operating in Palestine
Date: Sunday, December 11, 2011

Subject: System for Modifying/Updating Financial and Personal Data of Clients

Further to our circular No. (2007/160) issued on 28/10/2007, concerning the instructions governing the Credit Information System and to Item 2, paragraph (d) of the circular regarding the modification/update of borrowers' and guarantors' personal and financial data, and in the context of the Monetary Authority's efforts to develop and automate work tools and mechanisms to minimize manual and paper-based work, a system has been developed to update the financial and personal data of borrowers and their guarantors through the Credit Information website to eliminate the use of paper forms as per the instructions.

Accordingly, bank administrations are requested to circulate the attached instructional guidelines to all users of the Credit Information System, which will be implemented in parallel with the paper modification forms for a period of two working days starting from December 13, 2011.

Any paper forms submitted by the Monetary Authority after the expiration of the aforementioned parallel implementation period for modifying/updating/settling borrowers' and guarantors' client data will not be accepted, and banks will bear the consequences thereof. For technical assistance or inquiries, please contact the Public Relations and Market Discipline Department/Analysis and Technical Support Division.

Public Relations and Market Discipline Department Signature Palestine Monetary Authority

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Steps for Modifying/Updating Financial and Personal Data of Clients

1. Modifying the Financial File of Borrowers and Their Guarantors

• Select the Credit Information System from the Monetary Authority's systems website.
• Click on the "Modify/Update Financial Data" box.
• Specify the client identification type (ID/Passport/Companies-Institutions).
• Enter the client's ID/Passport/Registration number for the client whose data is to be modified.
• Click the "Search" icon to retrieve data on the facilities granted to the client.

1.1 Executing a Financial Data Modification Process on a Facility File for Borrowers or Their Guarantors:

1.1.1 Click on the edit icon appearing to the right of the facility file whose data is to be modified.

1.1.2 A screen will appear containing the data of the selected facility for modification, alongside input fields to be used for executing the modification on the selected facility file.

1.1.3 The fields will be used to modify the data to be corrected, followed by clicking the "Modify" icon, after which the message "Modification successful" will appear upon completion of the process according to standard procedures.

1.1.4 The data of the modified facility will be transferred to the screen of the designated Monetary Authority employee for review, verification, approval, or rejection of the requested modifications.

1.1.5 If the designated employee approves the modification request, the modified data will be immediately transferred to the client's facility file to update it automatically, and an email will be sent to the concerned employee acknowledging acceptance of the modification process.

1.1.6 If the process is rejected by the designated Monetary Authority employee, the operation will be cancelled, and an email will be sent to the concerned bank employee noting the rejection of the process.

1.2 Executing a Settlement Process for Credit Facility Files:

1.2.1 The facility file to be settled will be identified according to the procedural steps above.

1.2.2 Click on the "Settle" icon appearing to the right of the selected facility file.

1.2.3 A screen will appear containing the data of the selected facility.

1.2.4 Click on the "Settle" box at the bottom of the page to automatically settle the file through the system, which will automatically update the granted limit and utilized balance for the facility to "ZERO".

1.2.5 Upon completion of the process, the message "File settled successfully" will appear, followed by the data being transferred to the designated Monetary Authority employee's screen for approval or rejection according to the steps explained above.

1.3 Executing a Process to Add a Guarantor to a Borrower's Facility File:

1.3.1 Click on the edit icon appearing to the right of the selected facility file to modify its data.

1.3.2 A screen will appear containing the financial data of the selected facility, including guarantor data.

1.3.3 Click on the plus sign (+) specified next to the guarantor data.

1.3.4 An additional screen in table format will appear for entering data for new guarantor(s).

1.3.5 Enter the new guarantor(s)' data in the specified fields.

1.3.6 Click on the "Modify" box to execute the guarantor addition process.

1.3.7 After clicking the "Modify" box, the data will be transferred to the designated Monetary Authority employee's screen for approval and transfer to the database according to standard procedures.

1.4 Executing a Process to Remove a Guarantor from a Borrower's Facility File:

1.4.1 Click on the edit icon appearing to the right of the selected facility file.

1.4.2 A screen will appear containing the financial data of the selected facility file, in addition to the guarantor data for the specified facility.

1.4.3 Click on the minus sign (-) specified next to the data of the guarantor whose data is to be deleted.

1.4.4 Click on the "Modify" box to execute the guarantor removal process.

1.4.5 Upon completion of the deletion process, the data will be transferred to the designated Monetary Authority employee's screen for approval or rejection according to standard procedures.

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2. Modifying the Client's Personal File

2.1 Select the Credit Information System or Bounced Checks System from the Monetary Authority's website for the client whose demographic ("personal") data is to be modified.

2.2 Click on the "Modify/Update Personal Data" icon.

2.3 Specify the client identification type (ID/Passport/Companies-Institutions).

2.4 Enter the client's ID/Passport/Registration number for the client whose data is to be modified.

2.5 Click the "Search" icon to retrieve the personal file data of the client whose data is to be modified/updated.

2.6 Click on the edit icon appearing to the right of the screen.

2.7 A screen will appear containing the client's personal data prior to modification, alongside input fields to execute the modifications through them.

2.8 Enter the correct data in the fields and then click the "Modify" icon.

2.9 After clicking the "Modify" icon, the message "Modification successful" will appear.

2.10 Upon completion of the modification process, the client's file data will be transferred to the designated Monetary Authority employee's screen for review and approval or rejection according to standard procedures.

2.11 If the requested modifications are approved, the updated data will be immediately transferred to the client's file to update it according to standard procedures, and an email will be sent to the concerned employee acknowledging acceptance of the modification process.

2.12 If the modification is rejected by the designated employee, the operation executed by the bank employee will be cancelled, and an email will be sent to the concerned employee noting the rejection of the process.

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3. General Provisions:

3.1 Permission to use the modification/update/settlement data system will be granted to users nominated by bank administrations.

3.2 The automated service and paper forms will be implemented in parallel for a period of two working days from its date, allowing the user the option to choose either method for modifying/updating financial and personal data, with the requirement to comply with using the new system by the end of the parallel implementation period.

3.3 To maintain data integrity, the following data will not be modified/updated through the system:

• Client file lock
• Client ID number
• Borrower client nationality
• Facility file number
• Facility classification

Modifying these requires contacting the Monetary Authority via an official letter specifying the ID/Passport/Registration number, facility file number, and type of modification required for the item above.

3.4 Based on the provisions of Chapter Nine of Banking Law No. (9) of 2010, the Monetary Authority may take appropriate measures in case of non-compliance with the guidelines of this system or if bad faith in its use is proven.

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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 www.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 E-mail: info@pma.ps www.pma.ps