Terms and Conditions

• The program shall be applied in accordance with its specific terms and conditions, in compliance with the policies and procedures adopted by the Bank and the instructions of the Palestinian Monetary Authority.
• Verification and documentation of customers’ sources of income shall be carried out in accordance with the applicable procedures.
• The borrower shall be subject to the requirements of the regulatory authorities, such as (valid legal licenses, not listed with the Monetary Authority, sanctions or blacklist screenings, etc.), in accordance with the relevant instructions in this regard.
• No outstanding liabilities shall appear against the borrower.
• The value of the asset shall be determined based on either the valuation conducted by the Bank’s approved real estate appraiser or the sale contract, whichever is lower (for real estate), or based on purchase invoices / price quotations for other assets (submitted by the seller), taking into consideration the relevant instructions in this regard.
• In the case of real estate financing, the valuation approved by the Bank’s certified real estate appraiser or the sale contract, whichever is lower, shall be adopted in accordance with the applicable policies, and the mortgage shall be registered in favor of the Bank as a first-degree mortgage, in line with the applicable policies.
• In the case of financing machinery, equipment, production lines, furniture, or similar assets, reliance shall be placed on the values stated in the purchase invoices or price quotations issued by the seller.
• Financing may be disbursed in installments based on completion percentages and project milestones in cases involving the construction of real estate or projects that require time to become operational (such as production lines), provided that a Bank engineer conducts site visits in the case of real estate projects, supervises the stages of completion and disbursement, and prepares a report accordingly.
• Audited financial statements shall be submitted by customers who are required to prepare such statements in accordance with the relevant instructions.

 - For professionals, craftsmen, and individual customers across various economic sectors:

• Proof of the customer’s identity through a valid national ID card.
• A recent bank statement for the last six months, regardless of the loan amount requested, if the customer deals with other banks.
• A valid professional practice certificate, a copy of a valid professional association membership ID, and a copy of a lease agreement or title deed for the business premises, etc., along with supporting documents relevant to each sector.
• Any other documents as required in accordance with the relevant instructions.

- For small, medium, and large institutions and companies across various economic sectors:

• Official documents of the institution or company, as applicable, such as a registration certificate not older than six months and a valid business license.
• A recent bank statement for the last six months, regardless of the loan amount requested (if dealing with other banks), to be compared with the declared business volume as reflected in the submitted financial statements or the field inspection report prepared by the Bank.
• In the absence of a recent bank statement for the last six months proving the customer’s income, a physical field inspection shall be conducted at the customer’s premises to verify the monthly income.
• Any other documents as required in accordance with the relevant instructions.