Regulatory Alerts2024-01-01
Instructions No. 4 of 2024 Regarding the Quality of Banking Services Provided to Customers
The Palestine Monetary Authority issued Instructions No. 4 of 2024 to mandate that all licensed banks in Palestine deliver high-quality, timely banking services through physical branches and electronic channels. The regulations require banks to implement electronic queuing systems, ensure adequate staffing during peak periods, prioritize vulnerable customers, and maintain continuous digital services including chatbots, 24/7 hotlines, and accessible Gaza Strip accounts. Furthermore, banks must actively educate customers on digital tools, document quality improvement procedures, and submit annual satisfaction reports to the Market Discipline Department, with non-compliance subject to penalties under Legislative Decree No. 9 of 2010.
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