Regulatory Alerts2022-01-01
Instructions No. 1 of 2022 Regarding Membership in the National Switch 194 System
The Palestine Monetary Authority issued Instructions No. 1 of 2022 to regulate membership, operational rules, and fee structures for the National Switch 194 payment system. The directive mandates compulsory membership for all licensed banks and payment service providers, establishing specific technical, security, and reporting obligations for system participants. It further defines fixed membership fees, transaction charges for cash withdrawals and balance inquiries, merchant discount rates, and detailed procedures for dispute resolution and system continuity.
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