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 align their operational policies with the Anti-Money Laundering and Counter-Terrorist Financing Instructions No. 4 of 2022. This directive mandates compliance with the regulations published in Official Gazette No. 198 and formally repeals all preceding instructions issued by the National Committee for Anti-Money Laundering and Counter-Terrorist Financing under Article 38. Financial follow-up units must ensure strict enforcement of these updated regulatory standards across all licensed money exchange institutions.
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 with them.
Furthermore, the previous Instructions issued by the National Committee for Anti-Money Laundering and Counter-Terrorist Financing are hereby repealed, as specified in Article (38) of the aforementioned Instructions.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