Regulatory Alerts2022-01-01
Circular No. 224/2022: Sanctions and Freezing Lists
The Palestine Monetary Authority mandates all licensed money changers in Palestine to register on the Security Council Resolutions Implementation Committee's official website and immediately implement UN Security Council Resolutions 1718 and 2231. Institutions must electronically update sanctions and freezing lists directly from authoritative sources without delay and fully document all compliance actions. The Authority explicitly warns that strict penalties will be enforced against any entity failing to adhere to these mandatory compliance measures.
PALESTINE MONETARY AUTHORITY
Circular No. (224/2022) To All Money Changers Operating in Palestine Date: Thursday, September 22, 2022
Subject: Sanctions and Freezing Lists
Pursuant to the provisions of Presidential Decree No. (14) of 2022 concerning the implementation of Security Council resolutions, and in reference to our Circular No. (175/2022) related to Instructions No. (1) of 2022 issued by the Security Council Resolutions Implementation Committee, and regarding registration and subscription to the Committee's website, the Authority reiterates the necessity to comply and adhere to the following:
- Take the necessary measures to ensure registration and subscription to the website of the Security Council Resolutions Implementation Committee, linked below.
- Immediately implement the resolutions published via the Committee's website link below; including Resolution No. (1718) of 2006 concerning the Democratic People's Republic of Korea, and Resolution No. (2231) of 2015 concerning the Iranian nuclear file.
- Work on updating the sanctions and freezing lists from their sources immediately, electronically, and without delay, with the results of such updates to be documented.
Please note that the Authority will not tolerate and will impose the strictest penalties on violators.
Supervision Group Palestine Monetary Authority
Website Registration Link: http://sanction.pgp.ps/ar/subscribe Local and International Sanctions Lists Link: http://sanction.pgp.ps/ar/SanctionFiles_arb
www.pma.ps Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452 | Tel: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825713 | Fax: +970 8 2844487