Regulatory Alerts2023-01-01
Circular No. 37/2023 – Money Changers: Anti-Money Laundering and Counter-Terrorist Financing Instructions No. 4 of 2022
The Palestine Monetary Authority issued Circular No. 37/2023 to direct all money changers operating in Palestine to immediately implement and update their policies and procedures in accordance with the newly published Anti-Money Laundering and Counter-Terrorist Financing Instructions No. 4 of 2022. This circular mandates compliance with the National Committee’s updated regulatory framework and formally repeals all prior instructions specified under Article 38. Money changers are required to align their operational guidelines with the attached instructions without delay to ensure full regulatory adherence.
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (37 / 2023) To all Money Changers operating in Palestine Date: Wednesday, 08 February, 2023
Subject: Anti-Money Laundering and Counter-Terrorist Financing Instructions No. (4) of 2022
Attached are the Anti-Money Laundering and Counter-Terrorist Financing Instructions No. (4) of 2022, issued by the National Committee for Anti-Money Laundering and Counter-Terrorist Financing and published in Official Gazette No. (198) regarding anti-money laundering and counter-terrorist financing for financial institutions. Accordingly, immediate measures are requested to implement the provisions and requirements of the aforementioned Instructions, and to update policies and operational procedures in accordance therewith.
Furthermore, prior Instructions issued by the National Committee for Anti-Money Laundering and Counter-Terrorist Financing are hereby repealed, as specified in Article (38) of the aforementioned Instructions.
Supervision Group Palestine Monetary Authority
Copy to: The respected Financial Follow-up Unit