Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (4) of 2021

Regarding the Extension of the Incentive Period Related to the Merger and Purchase of Assets and Liabilities of Money Changers

Based on the provisions of Decision No. (41) of 2016 on the Licensing and Supervision of the Money Changer Profession, particularly Article (21) thereof, and in continuation of Instructions No. (2) of 2021 regarding the merger and purchase of assets and liabilities of money changers, and in accordance with the powers delegated to 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 extend the incentive period granted to the merging or acquiring money changer company and related to the branch for an additional six months.

2. The provisions of these instructions apply to money changers licensed by the Palestine Monetary Authority.

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Article (2)

Merger Incentives

Extension of the incentive period specified in Article No. (9) of Instructions No. (2) of 2021 regarding the merger and purchase of assets and liabilities of money changers, granted to the merging or acquiring money changer company and related to the branch, for an additional six months.

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Article (3)

Repeal of Conflicting Provisions

Any provisions conflicting with the provisions of these instructions are hereby repealed.

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Article (4)

Implementation and Enforcement

All competent authorities shall implement the provisions of these instructions within their respective jurisdictions, and they shall apply from the date of their issuance.

Issued in Ramallah on: 26/12/2021.

Firas Malham Governor

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Note: www.pma.ps

Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Phone: +970 2 2415251 Gaza - Palestine P.O. Box 4026