Regulatory Alerts2020-01-01
Circular No. 237 Bounced Cheques System
The Palestine Monetary Authority has amended the bounced cheques system to extend the assessment period for returned cheques on customer accounts from three months to a full calendar year. This directive requires banks to classify customers across categories B, C, and D based on all bounced cheques issued during that single year, effective January 1, 2021. The revision aligns with previous 2017 instructions and aims to curb the widespread use of bounced cheques in Palestine.
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