Regulatory Alerts2026-01-01
High Council - 2022 - Circular No. 276 Regarding Payment Cards
The Palestine Monetary Authority and the High Council for Sharia Supervision issued Circular No. 276/2022 to repeal Circular No. 2021/41 and align Islamic payment card operations with Modified Sharia Standard No. 61. All Islamic banks providing or intending to provide payment card services must rectify their operations to comply with the Standard's Sharia controls. These institutions are required to submit a certified report from their Sharia Supervision Board detailing the extent of their adherence to the specified regulatory requirements.
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