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.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (159/2025)
To all banks operating in Palestine Date: Wednesday, November 26, 2025
Subject: Returned Cheques, Cheques Deposited for Collection, Lost Cheques, and Rented Safe Deposit Boxes
In light of receiving several inquiries and requests from bank customers in the Gaza Strip regarding returned cheques and cheques deposited for collection, as well as the mechanisms for dealing with lost cheques resulting from destruction during the aggression on the Gaza Strip, all banks operating in the Gaza Strip are requested to implement the following:
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Deliver returned cheques held at branches after verifying the beneficiaries and in accordance with approved procedures, as well as in cases where there is no legal impediment to doing so.
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Establish the necessary technical and legal arrangements to address lost cheques, whether they are returned or deposited for collection, take the necessary steps to notify customers thereof, and report these cheques to the relevant systems in due course.
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Complete the process of delivering the contents of safe deposit boxes available at branches to their owners in accordance with approved procedures, and establish appropriate mechanisms for dealing with safe deposit boxes lost as a result of the aggression.
Supervision Group Palestine Monetary Authority
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251 | Postal code: P6160675