Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

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Instructions No. (58) of 2015

Regarding the Amendment of Instructions on Determinants and Controls for Granting Credit

Pursuant to the provisions of Decision-Law No. (9) of 2010 concerning Banks, and subsequently to Instructions No. (2015/02) regarding Determinants and Controls for Granting Credit, and in accordance with the powers delegated to us, and in the public interest, we have issued the following Instructions:

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Article (1)

Controls for Granting Credit

Amendment of Paragraph (t) of Clause One of Article (5) regarding the financing of car purchases, to read as follows:
(The purchase of cars shall be financed in accordance with the bank's credit policy, subject to the preparation and approval of specific mechanisms and controls for financing and the financing percentage that may be granted to the client, including the client's and product's risks).

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Article (2)

Controls and Determinants of Consumer Credit

All other controls specified in Article (5) of Instructions No. (2015/02) shall remain unchanged.

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Article (3)

Implementation and Enforcement

All competent authorities shall implement the provisions of these Instructions according to their respective jurisdictions, and they shall apply from the date of their issuance.

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Issued in Ramallah on: 22/12/2015 CE,
Corresponding to: 11 Rabi' al-Awwal 1437 AH

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Deputy Governor
for Financial Stability Affairs

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Supervision and Inspection Department

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www.pma.ps

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Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922 | Switchboard: +970 2 2409922 Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Switchboard: +970 8 2844487 Email: info@pma.ps | Email: info@pma.ps