Regulatory Alerts2018-01-01
Circular No. 152/2018: Continued Acceptance and Circulation of Older US Dollar Issuances
The Palestine Monetary Authority issued Circular No. 152/2018 to mandate that all money changers operating in Palestine must continue accepting and circulating US dollar bills from all issuances and denominations. The directive explicitly prohibits charging any fees or commissions for exchanging older US dollar notes for newer ones, classifying such practices as regulatory violations. This requirement aims to resolve customer complaints and preserve the stability of the Palestinian banking sector.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (152/2018)
To all money changers operating in Palestine
Date: Monday, July 09, 2018
Subject: Continued Acceptance and Circulation of Older US Dollar Issuances
In order to address customer complaints and maintain the stability of the banking sector, the Palestine Monetary Authority emphasizes the necessity of continuing to accept and circulate US Dollar currency from all issuances and denominations. Accordingly, charging any fees or commissions for exchanging older denominations for newer ones is considered a violation of the instructions.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310 | Fax: +970 2 2415310 | Tel: +970 2 2415250 | Ramallah - Palestine P.O. Box 452
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Fax: +970 8 2844487 | Tel: +970 8 2825292 | Gaza - Palestine P.O. Box 4026
Email: info@pma.ps | Email: info@pma.ps