Palestine Monetary Authority

Palestinian Monetary Authority

Circular No. (169/2013)

To all banks operating in Palestine

Date: Tuesday, December 24, 2013

Subject: Currency Counting and Checking Machines

In the framework of the measures and efforts undertaken by the Palestinian Monetary Authority to maintain the safety, stability, regulation, and development of banking operations, and to curb the phenomenon of counterfeit currency usage, and following our Circular No. 2012/12 regarding counterfeit/note forgery, and in reinforcement of the measures taken by banks to mitigate the risks of counterfeit currency proliferation across all banks:

Compliance with the following:

1. Provide a currency counting and checking machine at the level of each teller/counter through which cash deposit operations are executed.
2. Provide a metal detection device for currencies capable of checking all denominations at the level of each branch.
3. The specifications of the checking machines must include at least the following:
   a. The ability to count all denominations of a single currency. b. Detection of counterfeit notes from all currencies circulating in Palestine.
   c. Sorting of damaged notes.
   d. The ability to inspect security features using infrared, ultraviolet, watermarks, and magnetic detection. e. The ability to document cash operations and those being inspected through detection machines using computers and shall also include generating reports related to executed currency inspection operations.
4. Enhance the capabilities of bank tellers by mandating their participation in specialized training courses on counterfeit detection.

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Supervision and Inspection Department
Palestinian Monetary Authority

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Ramallah - Al Birah P.O.Box 452 - Tel.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487 E-mail: info@pma.ps www.pma.ps

Ramallah - Al Birah - P.O. Box: 452 - Tel.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box: 4026 - Tel.: 08-2825713 - Fax: 08-2844487