Regulatory Alerts2018-01-01
Circular No. 152/2018: Continued Acceptance and Circulation of Old US Dollar Issues
The Palestine Monetary Authority mandates that all money changers operating in Palestine must continue accepting and circulating all US dollar issues and denominations. The circular explicitly prohibits charging any fees or commissions for exchanging older banknotes for newer ones, classifying such practices as regulatory violations. This directive aims to resolve customer complaints and preserve the stability of the national banking sector.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (152/2018)
To all money changers operating in Palestine
Date: Monday, July 09, 2018
Subject: Continued Acceptance and Circulation of Old US Dollar Issues
In order to address customer complaints and maintain the stability of the banking sector, the Palestine Monetary Authority emphasizes the necessity of continuing to accept and circulate US dollars from all issues and denominations. Accordingly, charging any fees or commissions for exchanging old denominations for new ones is considered a violation of the instructions.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2415310 | Fax: +970 2 2415310 | Tel: +970 2 2415250 | Ramallah - Palestine P.O. Box 452
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Fax: +970 8 2844487 | Tel: +970 8 2825292 | Gaza - Palestine P.O. Box 4026
Email: info@pma.ps | Email: info@pma.ps