Regulatory Alerts2016-01-01
Instructions No. 6 of 2016 Regarding Official Working Days and Hours for Specialized Lending Institutions
The Palestine Monetary Authority issued Instructions No. 6 of 2016 to standardize official working days and hours for all licensed specialized lending institutions operating in Palestine. The directive mandates that institutions operate from Sunday through Thursday, with daily hours from 8:30 AM to 3:00 PM, except on Thursdays when operations must conclude by 2:00 PM. It further stipulates that institutions must close on Fridays and Saturdays, adjust hours during Ramadan via central bank circulars, and obtain prior approval to operate on official holidays or extend hours beyond the standard schedule.
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