Regulatory Alerts2025-01-01
Instructions No. 3 of 2025 Regarding the Returned Check Fee for Insufficient Funds
The Palestine Monetary Authority issued Instructions No. 3 of 2025 to mandate the reversal of returned check fees charged to customers in specific West Bank governorates. This directive requires banks to refund the full value of these fees for checks returned due to insufficient funds between January 1, 2025, and February 28, 2025. The regulation applies to all licensed banks operating in the governorates of Tulkarm, Jenin, and Tubas and takes effect immediately upon issuance.
Palestine Monetary Authority
Instructions No. (3) of 2025 Regarding the Returned Check Fee for Insufficient Funds
Based on the provisions of Law No. (9) of 2010 concerning Banks, particularly Articles (40, 72) thereof, and subsequently to Instructions No. (4) of 2023 concerning Banking Fees and Commissions, and based on the powers delegated to us, and in pursuit of the public interest, we have issued the following Instructions:
Article (1) Scope of Application
The provisions of these Instructions apply to all banks licensed by the Palestine Monetary Authority to conduct banking business.
Article (2) Returned Check Fee for Insufficient Funds
In exception to what was stated in Article (3/9) of Instructions No. (4) of 2023 concerning Banking Fees and Commissions, banks must reverse the full value of returned check fees for insufficient funds charged to customer accounts during the period from 2025/1/1 to 2025/2/28, and drawn on bank branches operating in the governorates of Tulkarm, Jenin, and Tubas.
Article (3) Implementation and Enforcement
All competent authorities must implement the provisions of these Instructions, each within its respective jurisdiction, and they shall apply from the date of their issuance.
Issued in Ramallah, on the date: 2025/03/20
Yahya Al-Shannar Governor