Instructions No. 4 of 2022 Regarding Official Working Hours

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Palestine Monetary Authority PALESTINE MONETARY AUTHORITY

Instructions No. (4) of 2022 Regarding Official Working Hours

Based on the provisions of Decision No. (41) of 2016 on the Licensing and Regulation of the Money Changer Profession, particularly Article (13) thereof, and in accordance with the powers delegated to us, and in pursuit of the public interest, we have issued the following Instructions:

Article (1) Objective and Scope of Application

1. The provisions of these Instructions aim to determine the official working hours and days for money changers.
2. The provisions of these Instructions apply to money changers licensed by the Palestine Monetary Authority.

Article (2) Official Working Hours

1. A money changer may be granted a maximum of two days of weekly leave, provided that the Palestine Monetary Authority is notified of the leave days in accordance with Appendix No. (1) and submitted via the email CRMC@pma.ps.
2. A money changer may open its doors to the public during working days from 8:00 AM, with a minimum of (7) seven working hours per day, provided that the Palestine Monetary Authority is notified of its intention to modify working hours via the aforementioned email.
3. The money changer must publicly announce its working days and hours in a prominent location within its premises.
4. The money changer must adhere to the following when wishing to close its doors during weekdays: a. In the event of closure for private reasons, the Palestine Monetary Authority must be notified prior to closure in accordance with Appendix No. (2). b. In the event of closure for emergency reasons, the Palestine Monetary Authority must be notified as soon as possible via the email CRMC@pma.ps. c. In the event the closure period exceeds one week, prior written approval from the Palestine Monetary Authority must be obtained in accordance with the prevailing Instructions.
5. A money changer may open its doors to the public during weekends, holidays, and official occasions.

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Palestine Monetary Authority PALESTINE MONETARY AUTHORITY

Article (3) Penalties Any person who violates the provisions of these Instructions shall be penalized in accordance with the provisions of Decision No. (41) of 2016 on the Licensing and Regulation of the Money Changer Profession.

Article (4) Repeal of Conflicting Provisions

1. Instructions No. (01) of 2013 regarding the determination of official working hours and days for money changer outlets/companies are hereby repealed.
2. All provisions conflicting with these Instructions are hereby repealed.

Article (5) Implementation and Enforcement All competent authorities shall, each within their respective jurisdiction, implement the provisions of these Instructions, which shall apply from the date of their issuance.

Issued in Ramallah on 3/03/2022

Dr. Firas Malham Governor [Signature]

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Palestine Monetary Authority Palestine Monetary Authority

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Appendix No. (2) Closure During Weekdays

Date: / /

Money Changer Name: ....................................................................................

Day intended to close the money changer's premises ........................ corresponding to ........................

Signature

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Palestine Monetary Authority Palestine Monetary Authority

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Appendix No. (1) Weekly Leave Days

Date: / /

Money Changer Name: ....................................................................................

Weekly Leave Days: ..........................................................................

Signature