Regulatory Alerts2024-01-01
Instructions No. 13 of 2024 Amending Instructions No. 7 of 2024 on the Launch of the Instant Payment System
The Palestine Monetary Authority issued Instructions No. 13 of 2024 to amend the financial ceilings and penalty provisions for the Instant Payment System. The regulation establishes specific transaction limits for individuals and legal entities, including a $10,000 single transaction cap and a $50,000 monthly aggregate limit. It also defines operational failure thresholds, such as connection disconnections and payment rejections, that trigger regulatory penalties under the National Payments Law.
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