Palestine Monetary Authority

Palestine Monetary Authority

Circular No. 17 (2011)

To all banks operating in Palestine

Date: Wednesday, February 02, 2011

Subject: Handling of Metallic Currency

In the context of the Palestine Monetary Authority's efforts to maintain and develop the quality of banking services provided by banks to their clients to meet citizens' needs, and in light of the continued receipt of complaints from some citizens regarding certain banks' refusal to accept the deposit of metallic currency, citing difficulties in handling it, an oversupply relative to demand, and shipping costs.

Accepting metallic currency is a fundamental part of banks' role in serving the public within the framework of the law and without reservations, unless the bank is exposed to any type of risk.

Therefore, all banks are required to fully comply with accepting the deposit of metallic currency from the public and to collect the commission stipulated in the Palestine Monetary Authority's instructions accordingly.

Dr. Najat Al-Raqabiyah Al-Tuqtush
Governor, Palestine Monetary Authority

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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

Ramallah - Al Bireh P.O. Box: 452 - Tel: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box: 4026 - Tel: 08-2825713 - Fax: 08-2844487