Member Banks

Membership:

PDIC membership is mandatory for all banks licensed by the PMA, regardless of whether they are commercial or Islamic. The number of banks that were subject to the provisions of the Law was 13 at end 2020. Of these, 7 were local banks and 6 were foreign banks.

Currency Exchange Rates 24/04/2024

Currency	Purchase	Sell
USD / NIS
JOD / NIS
Euro / NIS

Q & A

Which banks are member institutions of PDIC?

All commercial and Islamic banks operating in Palestine and licensed by Palestine Monetary Authority (PMA) Membership is compulsory for all banks licensed by the PMA

Does PDIC insure deposits in all currencies?

.PDIC insures deposits in all currencies with coverage limit up to $20,000 or equivalent in other currencies per depositor per member bank

What types of deposits are insured by PDIC?

PDIC insures all types of deposits for individuals, institutions, residents and non-residents, including:

-Current and demand deposits

-Saving deposits.

-Term and subject to notice deposits.

-Joint deposits accounts that belong to more than one person.

Excluding the following deposits:

-Deposits of the government and its agencies.

-Deposits of the PMA

-Deposits between members and other financial institutions

-Cash guarantees within the limits of the amount of guaranteed facilities

-Deposits of related person, in accordance with the provisions of the banking law currently in force.

-Deposits of the auditor of member and/or members of its Sharia supervisory board

-Restricted investment deposits, as determined by the board

Other financial institutions :

-Deposits of insurance companies and reinsurance companies licensed by Palestine Capital Market Authority.

-Deposits of brokerage firms licensed by the Palestine Capital Market Authority.

-Deposits of Specialized lending institution licensed by the PMA.

What is coverage limit of PDIC?

The coverage limit is up to $20,000 (Twenty thousand US dollar) or equivalent in other currencies per depositor per member bank.