Regulatory Alerts2012-01-01
Instructions No. 12 of 2012 Concerning Counterfeit Currency
The Palestine Monetary Authority issued Instructions No. 12 of 2012 mandating all Palestinian banks to implement strict internal procedures for detecting, detaining, and reporting counterfeit currency. The directive requires banks to train cash-handling staff, utilize advanced detection equipment, secure suspected notes in dual-controlled fireproof safes, and formally notify both the Public Prosecutor under Article 244 of the Penal Code and the Authority itself. These measures take effect immediately upon issuance and supersede any conflicting prior regulations.
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