Regulatory Alerts2006-01-01
Circular No. 198 on Old Damaged Israeli Currency Coins and Banknotes
The Palestine Monetary Authority mandates that all banks operating in Palestine must accept deposits of old damaged Israeli currency coins and banknotes, provided they are genuine, and must keep associated processing fees reasonable and aligned with local market conditions. This directive reinforces Circular No. 128 dated July 13, 2006, and requires all general and regional departments to formally instruct their branches to comply. Banks are explicitly prohibited from rejecting such currency deposits unless counterfeiting is suspected.
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