Regulatory Alerts2025-01-01
Palestine Monetary Authority Instructions No. 6 of 2025 Regarding Bounced Check Fees for Insufficient Funds
The Palestine Monetary Authority issued Instructions No. 6 of 2025 to regulate bounced check fees for insufficient funds in the West Bank governorates of Tulkarm, Jenin, and Tubas. The directive mandates a fixed fee of three US dollars per bounced check and extends the reversal period for such charges until April 30, 2025. These regulations apply to all banks licensed by the Authority and became effective upon their issuance on May 18, 2025.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Instructions No. (6) of 2025
Regarding Bounced Check Fees for Insufficient Funds
Based on the provisions of Law No. (9) of 2010 concerning Banks, particularly Articles (40, 72) thereof, and on the provisions of Law No. (41) of 2022 concerning National Payments, particularly Articles (12, 18) thereof, and subsequently to Instructions No. (3) of 2025 concerning Bounced Check Fees for Insufficient Funds, and after reviewing Instructions No. (4) of 2014 concerning Fees for the Instant Settlements and Clearing System, and based on what was approved by the Board of Directors of the Palestine Monetary Authority in its meeting No. (285) dated 2025/5/7, and in accordance with the powers vested in us, and in pursuit of the public interest, we have issued the following Instructions:
Article (1)
Scope of Application
The provisions of these Instructions shall apply to all banks licensed by the Palestine Monetary Authority to conduct banking business.
Article (2)
Bounced Check Fee for Insufficient Funds
The period for reversing bounced check fees for insufficient funds charged to customer accounts and drawn on branches of banks operating in the governorates of Tulkarm, Jenin, and Tubas is extended until 2025/4/30.
Article (3)
Clearing System Fees
Notwithstanding the provisions of paragraph (3) of Article (4) of Instructions No. (4) of 2014 concerning Fees for the Instant Settlements and Clearing System, it has been decided to apply a fee of (3) three US dollars for bounced checks for insufficient funds drawn on branches of banks operating in the governorates of Tulkarm, Jenin, and Tubas during the period from 2025/1/1 until 2025/4/30.
Article (4)
Implementation and Enforcement
All competent authorities shall implement the provisions of these Instructions insofar as they are concerned, and they shall apply from the date of their issuance.
Issued in Ramallah, on: 18/05/2025 AD
Yahya Al-Shannar
Governor
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 - محافظة رام الله والبيرة - فلسطين ص.ب info@pma.ps | Fax: +970 2 2415310 : فاكس | Tel: +970 2 2415251 : هاتف | Postal code: P6160675 : الرمز البريدي