Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (10) of 2025

Regarding Banking Services

Based on the provisions of Law No. (9) of 2010 Regarding Banks, particularly Articles (43, 72) thereof, and following Instructions No. (4) of 2024 Regarding the Quality of Banking Services Provided to Customers, Instructions No. (10) of 2024 Regarding Exchange Rates of Major Currencies, Instructions No. (13) of 2024 Regarding the Amendment of Instructions No. (7) of 2024 Regarding the Launch of the Instant Payment System, and Instructions No. (8) of 2025 Regarding Cash Deposits in Israeli Shekels, and according to the powers vested in us, and in the public interest, we have issued the following Instructions:

Article (1)

Objective and Scope of Application

1. The provisions of these Instructions aim to regulate and control the quality of banking services provided to customers.
2. The provisions of these Instructions apply to all banks licensed by the Palestine Monetary Authority under the Ministry of Banking.

Article (2)

Electronic Banking Services

The bank must adhere to the following:

1. Commit to raising the limits of all electronic banking services granted to customers to their levels prior to the bank's reduction thereof, unless such reduction was based on the customer's request.
2. Cover transfer and payment transactions via the Instant Payment System for individuals and companies in all currencies according to the limits specified in the prevailing Instructions.
3. Commit to allowing the modification and increase of credit card and transfer limits via banking applications according to the customer's request and the nature of their business.
4. Commit to notifying customers in the event of any modification to the limits of electronic banking services.

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Article (3)

Cash Deposits and Interest Rate

The bank must adhere to the following:

1. Accept cash deposits from customers in the same currency as the account and in accordance with the prevailing Instructions.
2. Not exceed compound interest on customers' accounts exposed as a result of the bank exercising its right to cash deposits under Instructions No. (8) of 2025 Regarding Cash Deposits in Israeli Shekels, at a rate of 9% annually, or charge a commission of 0.1% (one-tenth of one percent) on the deposited amount.

Article (4)

Exchange Rates of Major Currencies

The bank must adhere to the following:

1. The selling price of currency shall not exceed the prevailing buying price on global screens plus a maximum of 200 basis points, in accordance with the prevailing Instructions.
2. Adhere to the exchange rates fixed in the banking system, in the event that the currency of the card account differs from the currency of purchases and services paid through e-commerce, whether within or outside Palestine.
3. Require the customer to provide the bank with FX (currency conversion) access, in the event that the customer withdraws cash from their account and then redeposits it into their account in another currency.

Article (5)

Financial Transfers

The bank must commit to executing financial transfers for the benefit of customers on the same day.

Article (6)

Final Provisions

The bank must commit, before the end of the current month, to submitting a corrective plan to comply with reducing the credit-to-deposit ratio in each currency to below 80%.

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Article (7)

Penalties

Anyone who violates the provisions of these Instructions shall be punished in accordance with the provisions of Law No. (9) of 2010 Regarding Banks.

Article (8)

Cancellation of Conflicts

All that conflicts with the provisions of these Instructions is repealed.

Article (9)

Implementation and Language

All competent authorities must implement the provisions of these Instructions, each within their respective jurisdiction, and they shall apply from the date of their issuance.

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Issued in Ramallah, on the date: 03/07/2025

Yahya Al-Shannar Governor

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Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Palestine P.O. Box - Ramallah and Al-Bireh Governorate info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251 | Postal code: P6160675 | Postal Code www.pma.ps