On Sep. 30, 2024, ISR CB issued circular on postponing home loan procedure deadline.
Document dated Sep. 30, 2024, was received on Oct. 15, 2024, due to a fixed feed.
Circular confirmed that updates to directive 451 will be postponed until Apr. 1, 2025.
On Sep. 12, ISR CB proposed loan procedure change postponement.
ISR CB published draft circular proposing to postpone the deadline for procedures for granting housing loans, under the Proper conduct of banking directive no. 451.
In Jul. 2023, ISR CB published an update to directive 451 on Procedures for granting housing loans, to improve the process of making early repayment of a housing loan.
Circular determined the start date for revisions would be 1 year from publication date.
Oct. 2023, circular 2761-06 amended this to Oct. 20, 2024, following Iron Swords.
Following banking system requests for a further deadline extension, in view of the complexity of the process, draft circular proposes a revised deadline of Apr. 1, 2025.
Effectiveness
Comments are invited until Sep. 19, 2024.
Sep. 30, 2024 Postponement Confirmed
On Sep. 30, 2024, ISR CB issued circular on postponing home loan procedure deadline.
Document dated Sep. 30, 2024, was received on Oct. 15, 2024, due to a fixed feed.
Circular confirmed that updates to directive 451 will be postponed until Apr. 1, 2025.
