Regulatory Alerts2024-01-01
Circular No. 9/2024: Warning Against Dealing with Unlicensed Money Changers
The Palestine Monetary Authority (PMA) issued Circular No. 9/2024, warning all licensed money changers in Palestine against dealing with any person or entity practicing money changing without a valid PMA license. This warning is based on Article (3) of Decree-Law No. (40) of 2022, and the PMA emphasizes that it will impose the strictest penalties, including license reconsideration, on violators. Money changers are advised to consult the PMA's online directory to verify licensed money changing shops and companies.
[Palestine Monetary Authority Logo]
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (9 / 2024) To all Money Changers operating in Palestine Date: Tuesday, March 05, 2024
Subject: Warning against dealing with individuals practicing money changing without a license from the Palestine Monetary Authority
Based on the provisions of Article (3) of Decree-Law No. (40) of 2022 regarding the licensing and supervision of the money changing profession in Palestine, the Palestine Monetary Authority warns all money changers against dealing with any person who practices money changing without a license from the Palestine Monetary Authority, and affirms that it will not hesitate to take the strictest penalties against violators; including reconsidering licenses.
We note that money changers can view the names and addresses of licensed money changing shops and companies by visiting the Palestine Monetary Authority's website link provided below regarding the Money Changers Directory.
Supervision Group Palestine Monetary Authority [Signature]
https://www.pma.ps/en/Control-of-financial-sector/Money-Changers