Regulatory Alerts2021-01-01
Instructions No. 6 of 2021 Regarding the Cash Deposit Commission on the Israeli Shekel Currency
The Palestine Monetary Authority issued Instructions No. 6 of 2021 to amend the permissible fee structure for cash deposits in Israeli Shekels. The directive authorizes licensed Palestinian banks to charge a maximum commission of 0.2% on daily Israeli Shekel deposits exceeding 100,000 shekels and on total monthly deposits surpassing 300,000 shekels, explicitly prohibiting the double-counting of fees already applied within the daily threshold. These provisions take immediate effect upon issuance and repeal any conflicting prior regulations.
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