Regulatory Alerts2024-01-01
Instructions No. 15 of 2024 Regarding Main Currency Exchange Rates
The Palestine Monetary Authority issued Instructions No. 15 of 2024 to regulate the buying and selling of main currencies and define exchange rate margins for all licensed banks in Palestine. The regulations mandate that banks use reliable global screens for pricing, cap the spread at 200 basis points, and prohibit fees on debit card transactions where the card currency matches the transaction currency. These measures aim to prevent currency speculation, ensure fair competitiveness, and protect the public interest effective from their issuance date.
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