Regulatory Alerts2021-01-01
Circular No. (2021/11): Apple Pay
The Palestine Monetary Authority issued Circular No. (2021/11) on January 24, 2021, mandating that all banks operating in Palestine must obtain prior regulatory approval before engaging in or contracting with Apple Pay. This directive establishes a mandatory pre-authorization requirement for financial institutions seeking to integrate or partner with the Apple Pay service. Compliance with this prior approval process is strictly enforced to ensure regulatory oversight of digital payment partnerships.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (2021/11)
To all banks operating in Palestine
Date: Sunday, January 24, 2021
Subject: Apple Pay
With reference to the above subject, all banks operating in Palestine are required to obtain prior approval from the Palestine Monetary Authority before engaging in or contracting with Apple Pay.
Supervision Group
Palestine Monetary Authority
Note: The original text contains a handwritten signature, which has been documented as "Supervision Group" and "Palestine Monetary Authority".
Export Notes:
- Website: www.pma.ps
- Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452
info@pma.ps | Fax: +970 2 2415310 | Tel: +970 2 2415251 - Gaza - Palestine P.O. Box 4026