Regulatory Alerts2022-01-01
Instructions No. 14 of 2022 Regarding Licensing Fees for Payment Service Companies
The Palestine Monetary Authority issued Instructions No. 14 of 2022 to establish and standardize the licensing fee structure for payment service companies operating in Palestine. The directive mandates a non-refundable application fee of $1,000, a one-time pre-licensing fee of $20,000, and an annual renewal fee of $5,000 calculated on a pro-rata basis for licenses issued mid-year. These provisions take immediate effect upon issuance and require all relevant competent authorities to enforce compliance according to their respective jurisdictions.
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