Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (2018/67)
To all money changers operating in Palestine Date: Tuesday, July 31, 2018

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Subject: Delivery of Remittance to Beneficiary in a Currency Other Than the Original

In light of complaints received from citizens regarding the delivery of incoming remittances in a currency different from the one sent, and in order to enhance transparency and disclosure principles for customers and protect their rights, and pursuant to Instructions No. (2017/01) dated 2017/10/30 concerning financial remittances, which stipulate that a remittance must be delivered to the beneficiary in the same currency as sent, unless the beneficiary requests otherwise in writing, all money changers are required to provide a separate acknowledgment form, distinct from the remittance receipt form, to be signed by the beneficiary confirming their written consent to receive the remittance value in a currency other than the one originally sent.

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Market Discipline Department
Palestine Monetary Authority

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Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310 Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 Email: info@pma.ps Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310 Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 Email: info@pma.ps www.pma.ps