Regulatory Alerts2023-01-01
Circular No. 23 (2023) Payment Sector Guideline for Implementing UN Security Council Resolutions
The Palestine Monetary Authority issued Circular No. 23 (2023) to direct all payment service companies in Palestine to adopt the UN Security Council Resolutions Implementation Committee's Guideline. The circular mandates these entities to continuously monitor the committee’s official website and promptly document the application of targeted financial sanctions. Additionally, it requires payment service companies to train relevant personnel on the mechanisms for combating terrorism financing and preventing the proliferation of weapons of mass destruction.
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