RegAlert

Rule · PMA · 15 Jun 2021

Instructions No. 14 of 2021 Regarding the Reimbursement of Returned Cheque Fees for Insufficient Funds

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consumer

The Palestine Monetary Authority issued Instructions No. 14 of 2021 to repeal and replace previous regulations governing fees for returned cheques due to insufficient funds. The directive explicitly abolishes Instructions No. (26) and (28) of 2020, consolidating the regulatory framework for cheque return charges under a single updated mandate. All licensed banks operating in Palestine must comply with these provisions effective July 1, 2021.

PalestinePalestine Monetary Authority

Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (14) of 2021

Regarding the Reimbursement of Returned Cheque Fees for Insufficient Funds

Pursuant to the provisions of Decision-Law No. (9) of 2010 concerning Banks, particularly Article (72) thereof, and after reviewing Instructions No. (7) of 2014 concerning Fees and Commissions, Instructions No. (26) of 2020 concerning Returned Cheques for Insufficient Funds, and Instructions No. (28) of 2020 concerning the Returned Cheque Fee for Insufficient Funds, and based on what was approved by the Board of Directors of the Palestine Monetary Authority in its meeting No. (235) dated 03/06/2021, and in accordance with the powers delegated to us, and in pursuit of the public interest, we have issued the following Instructions:

Article (1)

Scope of Application

The provisions of these Instructions shall apply to all banks licensed to operate in Palestine.

Article (2)

Returned Cheque Fee for Insufficient Funds

  1. Instructions No. (26) of 2020 concerning Returned Cheques for Insufficient Funds are hereby repealed.
  2. Instructions No. (28) of 2020 concerning the Returned Cheque Fee for Insufficient Funds are hereby repealed.

Article (3)

Repeal

All provisions conflicting with the provisions of these Instructions are hereby repealed.

Article (4)

Implementation and Enforcement

All competent authorities shall implement the provisions of these Instructions according to their respective jurisdictions, and they shall apply from 01/07/2021.

Issued in Ramallah on 15/06/2021 AD

Dr. Firas Malham
Governor
(Signature)

www.pma.ps

Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Fax | Tel: +970 2 2415251 | Tel

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Decision Law No. 9 of 2010Not in RegAlertDecision Law No. 9 of 2010 — Not in RegAlertInstructions No. (26) of 2020concerning Returned Cheques for I…Not in RegAlertInstructions No. (26) of 2020 concerning Returned Cheques for Insufficient Funds — Not in RegAlertInstructions No. (28) of 2020concerning the Returned Cheque Fe…Not in RegAlertInstructions No. (28) of 2020 concerning the Returned Cheque Fee for Insufficient Funds — Not in RegAlertInstructions No. 14 of 2021Regarding the Reimbursement o…2021-06-15 · this documentInstructions No. 14 of 2021 Regarding the Reimbursement of Returned Cheque Fees for Insufficient Funds (2021-06-15)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (3)
Supersedes
  • Instructions No. (26) of 2020 concerning Returned Cheques for Insufficient FundsNot in RegAlert

    “Instructions No. (26) of 2020 concerning Returned Cheques for Insufficient Funds are hereby repealed.”

  • Instructions No. (28) of 2020 concerning the Returned Cheque Fee for Insufficient FundsNot in RegAlert

    “Instructions No. (28) of 2020 concerning the Returned Cheque Fee for Insufficient Funds are hereby repealed.”

Issued under
  • Decision Law No. 9 of 2010Not in RegAlert

    “Pursuant to the provisions of Decision-Law No. (9) of 2010 concerning Banks, particularly Article (72) thereof”

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