Regulatory Alerts2012-01-01
Circular No. 83: Deposits of Old Series US Dollar Currency
The Palestine Monetary Authority mandates that all banks operating in Palestine must accept deposits of old series $100 US dollar bills, responding to persistent citizen complaints regarding bank refusals. Financial institutions are required to subject these deposits to standard verification procedures to ensure authenticity before processing. Failure to comply with this directive will trigger regulatory enforcement actions against non-compliant banks.
Palestine Monetary Authority
Circular No. (83/2012)
To all banks operating in Palestine
Date: Sunday, June 03, 2012
Subject: Deposits of US Dollar Currency from Old Editions
In light of the continued receipt by the Palestine Monetary Authority of numerous citizen complaints regarding certain banks' refusal to accept deposits of the old series $100 bills, all banks are hereby required to comply with accepting customer deposits of the old series $100 bills, subjecting them to all relevant banking procedures to verify their authenticity. Otherwise, the Authority will be compelled to take appropriate action against non-compliant banks.
Public Relations and Market Discipline Department
Palestine Monetary Authority
Ramallah - Al Bireh P.O. Box: 452 - Tel.: 02-2409920 - Fax: 02-2409922
Gaza - P.O. Box: 4026 - Tel.: 08-2825713 - Fax: 08-2844487
E-mail: info@pma.ps www.pma.ps