Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (33) of 2020

Regarding the Amendment of Instructions No. (22) of 2020 Concerning the Small and Medium Enterprises Financing Program

Pursuant to the provisions of Decision-Law No. (9) of 2010 Concerning Banks, particularly Articles 40 and 72 thereof, and after reviewing Instructions No. (22) of 2020 Concerning the Small and Medium Enterprises Financing Program, and after reviewing Instructions No. (25) of 2020 Amending Instructions No. (22) of 2020 Concerning the Small and Medium Enterprises Financing Program, and in accordance with the authorities vested in us, and in the public interest,

we have issued the following Instructions:

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Article (1)

Scope of Application

The provisions of these Instructions shall apply to all banks licensed by the Palestine Monetary Authority under the Ministry of Banking Affairs in Palestine, including Islamic banks.

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Article (2)

Definitions

The following words and phrases shall have the meanings specified below unless the context indicates otherwise:

• Original Instructions: Instructions No. (22) of 2020 Concerning the Small and Medium Enterprises Financing Program.

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Article (3)

Amendment of Article (3) Provisions

The provisions of Article (3) of the Original Instructions are hereby amended by adding a new paragraph numbered (5) stating the following:

"The Bank may grant any borrower from the tourism sector a grace period of up to (24) twenty-four months."

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Article (4)

Implementation and Enforcement

All competent authorities shall, each within their respective jurisdiction, implement the provisions of these Instructions, which shall apply from the date of their issuance.

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Issued in Ramallah on 30/08/2020 CE

AZAM AL-SHAWA
Governor

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Note:
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Fax | Tel: +970 2 2415251 | Tel Gaza - Palestine P.O. Box 4026 Gaza - Palestine P.O. Box 4026 www.pma.ps