Palestine Monetary Authority

Instructions No. (8) of 2025

Regarding Cash Deposits in Israeli Shekels

Based on the provisions of Law Decree No. (9) of 2010 concerning Banks, specifically Articles (43 and 72) thereof,

In accordance with the powers vested in us,

And in pursuit of the public interest,

We have issued the following Instructions:

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Article (1)

Objective and Scope of Application

1. The provisions of these Instructions aim to regulate the procedures of banks for accepting cash deposits in Israeli Shekels under the current circumstances.
2. The provisions of these Instructions apply to all banks licensed by the Palestine Monetary Authority with a banking operation permit.

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Article (2)

Bank Procedures for Accepting Cash Deposits in Israeli Shekels

1. The bank must adhere to the following: a. Accept cash deposits without a limit of 5,000 shekels from individual customers without restriction, provided there is no legal impediment, taking into account the application of due diligence procedures in case of repeated deposits by the same customer. b. Accept cash deposits into the Ministry of Finance account for the payment of taxes and fees without ceilings. c. Accept cash deposits into municipal accounts without ceilings. d. Priority shall be given to accepting cash deposits and executing external transfers in Israeli Shekels to finance essential goods and services.

2. The bank may determine a right for cash deposits with a maximum limit of 3 working days for amounts exceeding 5,000 shekels or their equivalent in different currencies.

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Article (3)

Awareness Campaigns and Promotion of Electronic Payment Means

1. The bank must adhere to the following: Develop plans and resources to launch awareness campaigns and leaflets for customers in all branches, branches, and on its website and social media platforms regarding the following, and promote the Palestine Monetary Authority's directives to that effect, as well as assess the effectiveness of these campaigns: a. Enhancing the use of electronic payment means. b. Opening financial inclusion accounts.

2. Promote electronic payment means, including point-of-sale terminals across all different economic sectors, activate the use of QR Codes, and activate their issuance and use through the banking application.

3. Offer customers preferential exchange rates for Israeli Shekels when using electronic channels.

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Article (4)

Exploitation of Current Circumstances by Some Customers

The bank must monitor and take appropriate measures to limit the possibility of some customers exploiting the current circumstances, by establishing policies and controls on banking systems regarding changes in customer behavior and the nature of their banking operations.

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Article (5)

Penalties

Anyone who violates the provisions of these Instructions shall be punished in accordance with the provisions of Law Decree No. (9) of 2010 concerning Banks.

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Article (6)

Cancellation of Conflict

Everything that conflicts with the provisions of these Instructions is repealed.

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Article (7)

Implementation

All competent authorities must implement the provisions of these Instructions within their respective jurisdictions, and apply them as of the date of their issuance.

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Issued in Ramallah, on the date: 22/06/2025 AD

Yahya Al-Shannar Governor

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Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251 | Postal code: P6160675 www.pma.ps