Regulatory Alerts2025-01-01
Decision No. (13) on the Amicable Settlements of the Returned Cheques System
The Palestine Monetary Authority issued Decision No. (13) to establish standardized amicable settlement procedures for the returned cheques system, applying to all licensed financial institutions. The regulation mandates updated reconciliation protocols and payment plans for cheques issued between October 2023 and February 2025, with full compliance required by May 2025. It supersedes prior circulars and enforces strict reporting timelines to minimize financial disputes and streamline cheque clearance processes.
Share