Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

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Instructions No. (5) of 2014

Regarding Official Working Days and Hours for Banks

Pursuant to the provisions of Decision-Law No. (9) of 2010 regarding Banks, particularly Article No. (73) thereof,
and in the public interest,
we have issued the following Instructions:

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Article (1)

Scope of Application

The provisions of these Instructions shall apply to all banks operating in Palestine.

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Article (2)

Official Working Days

The official working days for all banks shall be from Sunday morning until the end of work on Thursday.

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Article (3)

Official Working Hours

1. Banks shall open their doors to the public during official working days from 8:30 AM until 2:30 PM, except on Thursday, when banks shall remain open to the public until 1:30 PM.
2. Official working hours during the holy month of Ramadan shall be adjusted based on a circular issued by the Palestine Monetary Authority for this purpose.

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Article (4)

Official and Emergency Holidays and Leave

Banks shall be closed for two days during the week, namely Friday and Saturday, and during official holidays and celebrations.
Banks shall also be closed during emergencies, in accordance with the decision issued by the Palestine Monetary Authority specifically for this purpose.

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Article (5)

Optional Exceptional Working Hours

Banks may extend working hours beyond official hours or open branch and office premises on official holidays and leave days on an exceptional basis at their own discretion, provided that they notify the Palestine Monetary Authority in advance and announce this to the public at branch and office premises at the time.

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Article (6)

General Provisions

1. All banks must comply with the following:
   • Adherence to the official working days and hours stipulated in these Instructions.
2. Take the necessary measures to amend their internal regulations and policies in accordance with the provisions of these Instructions.

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Article (7)

Repeal

Circular No. (2006/161) regarding the determination of official working days and hours for the banking sector, and anything inconsistent with the provisions of these Instructions, are hereby repealed.

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Article (8)

Implementation and Enforcement

All competent authorities shall, each within their respective jurisdiction, implement the provisions of these Instructions, and the provisions of these Instructions shall apply from 01/06/2014.

Issued in Ramallah on 13/05/2014
Corresponding to: 14 Rajab 1435

Public Relations and Market Discipline Department
Palestine Monetary Authority

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