Regulatory Alerts2023-01-01
Instructions No. 19 of 2023 Regarding Banking Fees and Commissions
The Palestine Monetary Authority issued Instructions No. 19 of 2023 to regulate banking fees and commissions, specifically postponing the implementation of Article 5 and the repeal of Instructions No. 6 of 2021 until June 30, 2024. These amendments ensure the continued application of the Israeli Shekel deposit commission while standardizing regulatory timelines under Law Decree No. 9 of 2010. The document establishes precise definitions for key terms and mandates compliance across all licensed financial institutions to enhance transparency in fee structures.
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