Regulatory Alerts2011-01-01
Circular No. 17: Handling of Metallic Currency
The Palestine Monetary Authority mandates that all banks operating in Palestine must fully accept public deposits of metallic currency without reservation, provided no specific risk is incurred. This directive addresses ongoing consumer complaints regarding banks' refusal to handle coins due to logistical challenges, supply-demand imbalances, and shipping costs. Banks are further instructed to strictly adhere to the authority's regulations and properly collect the stipulated administrative commissions for these transactions.
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