Regulatory Alerts2023-01-01
Circular No. 258 on Time Deposits and Investment Deposits
The Palestine Monetary Authority issued Circular No. 258/2023 requiring all banks operating in Palestine to renew matured or soon-to-mature customer time and investment deposits in the Gaza Strip at the higher of the agreed interest rate or the published price list. This mandatory renewal applies to all qualifying deposits that matured after October 1, 2023. Banks must ensure compliance with these rate-matching renewal terms to maintain deposit stability amid current economic conditions.
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