Regulatory Alerts2022-01-01
Instructions No. 2 of 2022 Concerning Permitted and Prohibited Activities
The Palestine Monetary Authority issued Instructions No. 2 of 2022 to comprehensively regulate the permitted and prohibited activities of licensed exchange dealers. The directive mandates strict adherence to anti-money laundering due diligence, requires financial record retention for a minimum of ten years, and explicitly authorizes currency trading, check processing, precious metal sales, and designated payment services while strictly prohibiting deposit-taking, direct financing, speculative trading, and transactions with unlicensed entities or institutions located in settlements. Non-compliance triggers penalties under Decision No. 41 of 2016, which formally repeals conflicting 2011 guidelines and becomes effective immediately upon issuance.