Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (16) 2021

Regarding the Recovery of Settlement Fees

Pursuant to the provisions of Law Decree No. (9) of 2010 concerning Banks, particularly Article (72) thereof, and after reviewing Instructions No. (2) of 2017 concerning Returned Cheques, Settlements, Suspended and Lost Cheques, and Instructions No. (35) of 2020 concerning Settlement Fees, and based on what was approved by the Board of Directors of the Palestine Monetary Authority in its meeting No. (235) dated 2021/06/03, and in accordance with the powers delegated to us, and in 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)

Settlement Fees

Instructions No. (35) of 2020 concerning Settlement Fees are hereby repealed.

---

Article (3)

Repeal

Any provision inconsistent with the provisions of these Instructions is hereby repealed.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 2021/07/01.

---

Issued in Ramallah on 2021/06/15

Dr. Firas Malham
Governor

---

www.pma.ps

---

Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Phone: +970 2 2415251 Gaza - Palestine P.O. Box 4026 Fax: +970 8 2844487 | Phone: +970 8 2825713