Regulatory Alerts2025-01-01
Circular No. 159/2025: Returned, Collection-Deposit, Lost Cheques, and Rented Safe Deposit Boxes
The Palestine Monetary Authority issued Circular No. 159/2025 to mandate operational procedures for banks in Gaza regarding cheque and safe deposit box management following wartime destruction. The directive requires banks to deliver retained returned cheques to verified beneficiaries and to establish technical and legal protocols for handling lost cheques and notifying affected customers. Additionally, banks must complete the delivery of available safe deposit box contents to owners and implement mechanisms to address boxes lost during the conflict.
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