Regulatory Alerts2023-01-01
Circular No. 26/2023 on Banking Fees and Commissions
The Palestine Monetary Authority issued Circular No. 26/2023, requiring all operating banks to refrain from signing new customer agreements or contracts that conflict with the Banking Fees and Commissions Instructions, while deeming existing ones void upon the original instructions' effective date. Banks are also mandated to maintain cash deposit commissions in Shekels for customers until the new instructions fully apply, following the postponement of implementation to 01 May 2023. This directive ensures uniform compliance across the banking sector regarding fee structures and contractual validity.
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