Regulatory Alerts2022-01-01
Circular No. 86 Cabinet Decision No. 4 of 2021 Regarding the Minimum Wage
The Palestine Monetary Authority mandates all banks operating in Palestine to comply with Cabinet Decision No. 4 of 2021, which establishes a mandatory minimum monthly wage of 1,880 New Israeli Shekels across all sectors and regions. The decision additionally sets minimum daily and hourly compensation for casual and seasonal workers at 85 and 10.5 Shekels respectively, takes effect at the beginning of 2022, and explicitly repeals any prior regulations conflicting with its provisions. Tripartite committee agreements approved by the Cabinet are formally integrated into this regulatory framework.
Share