Regulatory Alerts2022-01-01
PMA Instructions No. 4 of 2022 Regarding Licensing Fees for Payment Service Companies
The Palestine Monetary Authority issued Instructions No. 4 of 2022 to establish the mandatory licensing fees for payment service companies operating in Palestine. The directive mandates a non-refundable application fee of $1,000, a lump-sum pre-issuance fee of $20,000, and an annual renewal fee of $5,000 calculated pro-rata based on the license issuance date. These fees must be paid upon written notice from the Authority, with annual payments due by January 31st each year, and the instructions take effect immediately upon issuance.
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