Palestine Monetary Authority

Palestine Monetary Authority

Instructions No. (1/2012)

To All Money Changers Operating in Palestine Date: Tuesday, February 28, 2012

Subject: Minimum Capital

In continuation of Instructions No. (2011/1) issued on June 1, 2011, concerning the licensing of money changers, the following are the instructions governing the capital of money changers:

1. The money changer must maintain paid-up capital commensurate with the volume of its business.
2. The minimum paid-up capital for money changers shall be as follows:

a- Money changers licensed to operate within city limits:

Denominated in US Dollars

Capital	Legal Form
250,000	General partnership, Limited liability company
500,000	Private joint-stock company
2,000,000	Public joint-stock company

b- Money changers licensed to operate outside city limits:

Denominated in US Dollars

Capital	Legal Form
100,000	General partnership, Limited liability company
250,000	Private joint-stock company
1,000,000	Public joint-stock company

3. The first paragraph of Article (3) of Instructions No. (2011/1), which pertains to the capital of money changers upon their conversion into companies, is hereby repealed, and the provisions of these instructions shall apply to them.
4. All money changers must regularize their status in compliance with these instructions and submit a repayment schedule for the capital within a period not exceeding one month from the date hereof, with full capital payment to be completed by no later than the end of 2013.

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Supervision and Inspection Department Palestine Monetary Authority

Ramallah - Al Bireh P.O. Box 452 - Tel.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box 4026 - Tel.: 08-2825713 - Fax: 08-2844487 E-mail: info@pma.ps www.pma.ps

Ramallah - Al Bireh - P.O. Box: 452 - Tel.: 02-2409920 - Fax: 02-2409922 Gaza - P.O. Box: 4026 - Tel.: 08-2825713 - Fax: 08-2844487