Regulatory Alerts2024-01-01
PMA Circular No. 134: Cap on Payments Executed via the National E-SADAD Invoice Presentation and Settlement System
The Palestine Monetary Authority issued Circular No. 134 on January 30, 2024, to establish a maximum limit on payments executed through the national E-SADAD invoice presentation and settlement system. This directive mandates that financial institutions and payment service providers adhere to the specified cap to ensure system stability and regulatory compliance. The circular outlines the operational requirements and enforcement mechanisms for managing transaction volumes within the E-SADAD framework.
PALESTINE MONETARY AUTHORITY
Circular No. 134: Cap on Payments Executed via the National E-SADAD Invoice Presentation and Settlement System
Issued on January 30, 2024
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Pursuant to the provisions of Article 8 of Law No. (2) of 2014 regarding the Palestine Monetary Authority, and in light of the need to regulate the operations of the E-SADAD system.
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In light of the importance of maintaining the stability and integrity of the national payment systems.
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And considering the necessity of monitoring transaction volumes to prevent systemic risks.
The Palestine Monetary Authority hereby issues the following:
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A maximum limit is set for payments executed through the E-SADAD system, as detailed in the attached schedule.
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All financial institutions and payment service providers participating in the E-SADAD system must comply with this cap immediately upon the issuance of this circular.
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The Monetary Authority will monitor compliance with this circular and take appropriate regulatory actions against any entity found in violation.