Regulatory Alerts2024-01-01
Circular No. 97 Cash Deposits in Shekel Currency
The Palestine Monetary Authority issued Circular No. 97/2024 requiring all banks operating in Palestine to accept cash deposits in Shekel currency without imposing unjustified restrictions or linking them to other financial services. The directive mandates that banks adhere to due diligence procedures, respect existing agreements regarding deposit limits, and strictly comply with regulations concerning ATM withdrawals and fees. The Authority emphasized that it will enforce legal measures, including financial fines, against any bank that fails to comply with these requirements.
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