Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (51) of 2019

Regarding the Rescheduling of Loans and Financing Granted to Public Sector Employees in the Southern Governorates

Pursuant to the provisions of Decision No. (132) of 2011 regarding the licensing and supervision system for specialized lending institutions, particularly Articles (3) and (11) thereof,

and in accordance with the powers delegated to us,

and in pursuit of 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 specialized lending institutions licensed by the Palestine Monetary Authority.

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Article (2)

Objective

These Instructions aim to amend the rescheduling conditions for loans and financing set forth in Instructions No. (1) of 2018, issued on 27/02/2018, whereby this amendment is strictly limited to the rescheduling of loans and financing granted to public sector employees in the southern governorates only.

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Article (3)

Rescheduling of Loans and Financing Granted to Public Sector Employees in the Southern Governorates

1. As an exception to the down payment requirement stipulated in Paragraph (3) of Article (2) of Instructions No. (1) of 2018, specialized lending institutions may reschedule loans and financing granted to public sector employees in the southern governorates with mutual consent without requiring a down payment at the second rescheduling.

2. All other rescheduling conditions stipulated in Instructions No. (1) of 2018 shall remain in full force and effect without any amendment.

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Article (4)

Repeal

Any provisions conflicting with the terms of these Instructions are hereby repealed.

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Article (5)

Implementation and Enforcement

1. All competent authorities shall, within their respective jurisdictions, implement the provisions of these Instructions, and their provisions shall apply as of the date of issuance.

2. These Instructions shall remain in effect until superseded or amended by further Instructions issued by the Palestine Monetary Authority.

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Issued in Ramallah on Thursday, dated 21/02/2019

Supervision and Inspection Department
Palestine Monetary Authority

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Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251 Gaza - Palestine P.O. Box 4026 Fax: +970 8 2844487 | Tel: +970 8 2825713

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