Instructions No. 19 of 2023 Regarding Banking Fees and Commissions

The Palestine Monetary Authority issued Instructions No. 19 of 2023 to regulate banking fees and commissions, specifically postponing the implementation of Article 5 and the repeal of Instructions No. 6 of 2021 until June 30, 2024. These amendments ensure the continued application of the Israeli Shekel deposit commission while standardizing regulatory timelines under Law Decree No. 9 of 2010. The document establishes precise definitions for key terms and mandates compliance across all licensed financial institutions to enhance transparency in fee structures.

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Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY

Instructions No. (19) of 2023
Regarding Banking Fees and Commissions

Pursuant to the provisions of Law Decree No. (9) of 2010 regarding Banks, particularly Articles (40 and 72) thereof, and after reviewing Instructions No. (4) of 2023, in accordance with the powers delegated to us, and in pursuit of the public interest, we have issued the following Instructions:

Article (1)
Definitions
The following words and expressions shall have the meanings assigned to them below, unless the context indicates otherwise:
The Original Instructions: Instructions No. 4 of 2023 regarding Banking Fees and Commissions.

Article (2)
Implementation of Article (5) Provisions
The implementation of the provisions of Article No. (5) of the Original Instructions is postponed until 30/6/2024, provided that Instructions No. (6) of 2021 regarding the deposit commission for the Israeli Shekel currency shall apply.

Article (3)
The repeal of Instructions No. (6) of 2021 regarding the deposit commission for the Israeli Shekel currency, as stipulated in Article (16) paragraph (3) of the Original Instructions, is postponed until 30/6/2024.

Issued in Ramallah, on 31/12/2023.

Dr. Firas Malhem
Governor
[Signature]

www.pma.ps Ramallah & Al-Bireh Governorate - Palestine P.O. Box 452 Postal Code: P6160675 | Phone: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps

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Lineage: In force

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Timeline

This document amends: Instructions No. (4) of 2023 Concerning Banking Fees and Commissions

Source: Palestine Monetary Authority — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works