Regulatory Alerts2022-01-01
Palestine Monetary Authority Circular No. 89/2022 Regarding Cabinet Decision No. 4 of 2021 on Minimum Wage
The Palestine Monetary Authority issued Circular No. 89/2022 to all money changers in Palestine, mandating strict compliance with Cabinet Decision No. 4 of 2021 regarding the minimum wage. The regulation establishes a mandatory monthly minimum wage of 1,880 New Israeli Shekels, a daily minimum of 85 NIS for casual and seasonal workers, and an hourly minimum of 10.5 NIS for these specific categories. This directive requires money changers to adhere to these statutory wage standards effective from the beginning of the 2022 fiscal year.
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