Regulatory Alerts2017-01-01
Circular No. 217 New Banknotes
The Palestine Monetary Authority issued Circular No. 217/2017 mandating all Palestinian banks to calibrate their currency counting, inspection, and automated teller machine equipment to accommodate the imminent circulation of new 20 and 100 shekel banknotes. This directive aims to mitigate operational risks and ensure the safety and security of all banking activities in strict compliance with the Authority's regulatory standards. Financial institutions must implement these technical adjustments promptly to align with the specified monetary guidelines.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (217 / 2017)
To all banks operating in Palestine
Date: Tuesday, October 17, 2017
Subject: New Banknotes
Given the imminent issuance and circulation of new banknotes in the denominations of 20 and 100 shekels, and with the Palestine Monetary Authority's commitment to mitigating risks and ensuring safety and security across all aspects of banking operations, we request that you take the necessary measures to calibrate and adjust the counting, inspection, and automated teller machine (ATM) equipment currently in use to accommodate the new banknotes, in accordance with our relevant instructions.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Phone: +970 2 2415250 | Fax: +970 2 2415310 | Fax: +970 2 2415310 | Phone: +970 2 2415250
Gaza - Palestine P.O. Box 4026 | Phone: +970 8 2825292 | Fax: +970 8 2844487 | Fax: +970 8 2844487 | Phone: +970 8 2825292
Email: info@pma.ps