Regulatory Alerts2026-04-23
Added
Circular No. 2026/13 Application of Minimum Wage
The Palestine Monetary Authority requires all banks operating in Palestine to implement the minimum wage as mandated by the Palestinian Labor Law, specifically addressing adjustments resulting from the fluctuation in the US Dollar/Jordanian Dinar to Shekel exchange rate. Banks are instructed to take necessary measures to comply with the attached letter from the Ministry of Labor. This directive applies to all banking institutions operating within the jurisdiction.
Palestine Monetary Authority
Circular No. (2026/13) To all banks operating in Palestine Date: Thursday, April 23, 2026
Subject: Application of Minimum Wage
With reference to the subject above, please find attached a letter from the Ministry of Labor regarding the necessity of adhering to the application of the approved minimum wage in accordance with the provisions of the Palestinian Labor Law, which was affected by the decrease in the exchange rate difference between the US Dollar/Jordanian Dinar and the Shekel.
Accordingly, all banks are requested to take the necessary measures to comply with the requirements of the attached letter.
Supervision Group Palestine Monetary Authority
Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Ramallah and Al-Bireh Governorate - Palestine P.O. Box info@pma.ps | Fax: +970 2 2415310 :Fax | Tel: +970 2 2415251 :Telephone | Postal code: P6160675 :Postal Code
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