Regulatory Alerts2016-01-01
Circular No. 14: Fees for Contracting with Attorneys in the United States
The Palestine Monetary Authority issued Circular No. 14/2016 to formalize a cost-sharing arrangement for legal fees related to hiring attorneys in the United States. Under this directive, the Authority will absorb 40% of the total fees, while the remaining 60% will be divided equally among all banks operating in Palestine. Each institution's proportional share will be automatically debited from its current account with the Authority upon the agreement's effective date, with formal written confirmation provided to each bank.
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