Regulatory Alerts2020-01-01
Circular No. 108 Government Payment Authorizations
The Palestine Monetary Authority, in coordination with the Ministry of Finance and Planning, issued Circular No. 2020/108 instructing all Palestinian banks to immediately halt the processing of Government Payment Instrument No. 836 for 390,272.50 NIS issued to the European Medical Analysis Laboratory Company. Banks are required to treat the instrument as void and invalid if presented, report any prior cashing, booking, or deposit activities, and formally record the instrument number in their systems to prevent future transactions. The directive includes detailed breakdowns of the payment's underlying health ministry subsidies and mandates strict compliance to mitigate unauthorized financial exposure.
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