Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (142/2016)

To all banks operating in Palestine
Date: Monday, August 08, 2016

Subject: Special Agencies for Workers' Accounts at Northern Governorate Branches

In order to regulate withdrawal and deposit operations in the accounts of Palestinian workers, who receive monthly allowances and/or pensions from Israeli institutions through special or general agencies, all banks operating in Palestine must comply with the following as a minimum when accepting the relevant agencies:

1. These agencies must be issued in accordance with legal procedures.
2. The agency must be renewed periodically every six months.
3. No amounts shall be disbursed under agencies that have been issued for more than six months, and their holders must be requested to renew them.

Deputy Governor
for Financial Stability Affairs

Supervision and Inspection Department

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