Regulatory Alerts2025-01-01
Palestine Monetary Authority Notice No. 44 on Settlements Regarding Bounced Checks
The Palestine Monetary Authority issued Notice No. 44 to establish a settlement framework for bounced checks under the Bounced Checks Law. The notice mandates that financial institutions must submit a list of bounced checks to the Authority within 20 days of issuance. Institutions are required to finalize these settlements by August 31, 2025, to ensure regulatory compliance.
PALESTINE MONETARY AUTHORITY
Notice No. (44)
On Settlements Regarding Bounced Checks
Date: 18 Sha'ban 1446 AH (March 20, 2025)
Pursuant to Article 1 of the Bounced Checks Law No. (13) of 2025 and its Executive Regulations, and in accordance with the provisions of the Monetary Authority Law No. (20) of 2011, the following is notified:
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Financial institutions shall submit a list of bounced checks to the Authority within twenty (20) days from the date of issuance of the bounced check.
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The Authority shall publish the list of bounced checks on its official website.
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Financial institutions shall finalize the settlements regarding the bounced checks by August 31, 2025.
Governorate of Ramallah & Al-Bireh - Palestine
PO Box 452
Email: info@pma.ps Fax: +970 2 2415310 Tel: +970 2 2415251 Postal Code: P6160675