2021-01-01

Instructions No. (10) of 2021 Regarding the Amendment of Instructions No. (3) of 2021 Concerning the Provision of E-Wallet Services by Payment Service Companies

The Palestine Monetary Authority issued Instructions No. 10 of 2021 to amend Instructions No. 3 of 2021 governing e-wallet services provided by licensed payment service companies in Palestine. The amendment explicitly permits payment service providers to offer digital card recharge and top-up services, provided they obtain prior written regulatory approval, charge only an agreed commission without owning or directly selling the cards, and adhere to existing financial ceilings and updated internal policies. Additionally, it establishes a regulated framework allowing account opening using mobile numbers from non-Palestinian telecom operators exclusively for natural persons residing in Jerusalem and the 1948 territories, subject to enhanced due diligence, risk mitigation protocols, and specific technological and legal safeguards.

Palestine Monetary Authority logo

Palestine

Palestine Monetary Authority

Click to view thumbnail

Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (10) of 2021

Regarding the Amendment of Instructions No. (3) of 2021 Concerning the Provision of E-Wallet Services by Payment Service Companies

Pursuant to the provisions of Legislative Decree No. (17) of 2012 concerning the National Payments Settlement Law, particularly Article (9) thereof, and after reviewing Instructions No. (3) of 2021 concerning the provision of e-wallet services by payment service companies, and based on what was approved by the Board of Directors of the Palestine Monetary Authority in its meeting No. (240) dated 23/10/2021, and in accordance with the powers delegated to us, and in pursuit of the public interest, we have issued the following Instructions:


Article (1)

Definitions

The words and phrases contained in these Instructions shall have the meanings assigned to them below, unless the context indicates otherwise:

  • Original Instructions: Instructions No. (3) of 2021 concerning the provision of e-wallet services by payment service companies.

Article (2)

Objective and Scope of Application

  1. These Instructions aim to regulate the following:

    • a. Opening an account for a user using a mobile phone number registered with a non-Palestinian telecommunications company.
    • b. The recharge and top-up service for users' electronic digital cards.
  2. The provisions of these Instructions shall apply to all licensed payment service companies authorized to provide payment services in Palestine.


Article (3)

Replacement of Annex No. (1)

Annex No. (1) referenced in the Original Instructions is hereby replaced by Annex No. (1) attached to these Instructions.


Article (4)

Recharge and Top-Up Service for Electronic Digital Cards

A new article, numbered (8) bis, is added to the Original Instructions, stipulating the following:

"The service provider may offer the recharge and top-up service for electronic digital cards, subject to compliance with the following:

  1. Obtaining the prior written approval of the Palestine Monetary Authority to contract with digital card providers.
  2. The service shall be provided exclusively to the company's users in exchange for a commission agreed upon with the card providers under the executed agreement, and the service provider shall not own or directly sell these cards.
  3. Compliance with the financial ceiling specified in Annex No. (2) of the Original Instructions.
  4. Amending systems, policies, and procedures in accordance with the provisions of this Article."

Article (5)

Repeal of Conflicting Provisions

All provisions conflicting with these Instructions are hereby repealed.


Article (6)

Implementation and Enforcement

All competent authorities shall implement the provisions of these Instructions according to their respective jurisdictions, and they shall take effect from the date of their issuance.

Issued in Ramallah on 24/11/2021 CE

Dr. Firas Malham
Governor


Note:
Annex No. (1) begins on the following page.


Annex No. (1)

Data and Information Required for Account Opening

The following is the minimum data and information required to be provided in the electronic wallet account opening application form:

  1. The following user information:

    • a. National ID number or the number of the recognized identity document for a natural person in Palestine, or the registration certificate for a legal entity.
    • b. Full four-part name.
    • c. Place of residence.
    • d. Occupation.
    • e. Copy of the identity document.
    • f. Mobile phone number registered with any telecommunications company licensed to operate in Palestine.
    • g. User's signature on the general terms and conditions for account opening.
  2. Terms and procedures for account renewal, reactivation, and closure.

  3. A declaration from the account opening applicant confirming that they are the original owner and sole beneficiary of the account.

  4. An annex detailing the account ceiling and authorized transactions executable through the electronic wallet.

  5. The service provider may open an electronic wallet account for a user using a mobile phone number registered with a non-Palestinian telecommunications company, subject to compliance with the following:

    • a. The account opening process shall be exclusively for natural persons.
    • b. The account opening process shall be exclusively for residents of Jerusalem and the 1948 territories only.
    • c. Establishing additional procedures, measures, and scenarios related to risk assessment and mitigation, including Enhanced Due Diligence (EDD) measures by providing a customer acceptance policy, classifying customers according to money laundering and terrorist financing risks, conducting continuous transaction monitoring using scenarios and supervisory indicators, and providing an official identity document.
    • d. Taking all necessary technological, technical, and legal procedures and arrangements to enable the use of non-Palestinian telecommunications company numbers.