Regulatory Alerts2024-01-01
Circular No. 31 (2024) on Electronic Payments in Certain Government Departments
The Palestine Monetary Authority (PMA) mandates that designated government departments and directories adopt standardized electronic payment systems and comply with the established Merchant Discount Rate (MDR) framework. This directive requires all specified public sector entities to transition their transaction processing mechanisms, ensuring full alignment with PMA regulations and reporting standards. Implementation of these electronic payment requirements takes effect in 2025, with ongoing compliance monitoring enforced by the Authority.
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