Regulatory Alerts2022-01-01
Circular No. 224/2022: Sanctions and Freezing Lists for Exchangers
The Palestine Monetary Authority issued Circular No. 224/2022 to all licensed exchangers in Palestine, mandating immediate registration with the UN Security Council Resolutions Implementation Committee's website and the prompt electronic updating of sanctions and freezing lists from official sources. The directive requires exchangers to instantly enforce all published Security Council resolutions, specifically highlighting UN Resolutions 1718 (2006) on North Korea and 2231 (2015) on Iran. Non-compliance will result in the strictest penalties as enforced by the Authority's supervision group.
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (224/2022) To All Exchangers Operating in Palestine Date: Thursday, 22 September 2022
Subject: Sanctions and Freezing Lists
Based on the provisions of Presidential Decree No. (14) of 2022 regarding the implementation of Security Council resolutions, and in reference to our Circular No. (175/2022) concerning Instructions No. (1) of 2022 issued by the Security Council Resolutions Implementation Committee, and registration and subscription to the Committee's website, the Palestine Monetary 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 United Nations Security Council Resolutions Implementation Committee mentioned below.
- Immediately implement the resolutions published via the Committee's website link mentioned 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 Palestine Monetary 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