Regulatory Alerts2014-01-01
Instructions No. 4 of 2014 Concerning Fees for the Real-Time Settlement and Clearing System
The Palestine Monetary Authority issued Instructions No. 4 of 2014 to establish and regulate fee structures for the Real-Time Settlement (Baraq) and Check Clearing systems. The directive mandates fixed monthly membership fees for direct and indirect members based on transaction volumes, alongside specific per-transaction charges for outgoing transfers and check processing. It further outlines a tiered penalty system for delayed or insufficient settlement funds, authorizes automatic deductions from members' accounts, and officially repeals the previous 2011 fee instructions effective May 1, 2014.
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