Regulatory Alerts2024-01-01
Palestine Monetary Authority Instruction No. 2 of 2024 Regarding the National E-SADAD Invoice Presentation and Payment System
The Palestine Monetary Authority issued Instruction No. 2 of 2024 to regulate the mandatory membership and operational requirements for the national E-SADAD invoice payment system. The directive mandates that all licensed banks and payment service providers join the system, which is exclusively operated by the Palestine Payment Services Company for invoice and prepaid services. It establishes strict obligations for members regarding system availability, transaction limits, fee structures, data security, and customer protection, while repealing previous related instructions.
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