Regulatory Alerts2017-01-01
Circular No. 121 of 2017 Regarding the Publication of Measures and Penalties on the Palestine Monetary Authority Website
The Palestine Monetary Authority issued Circular No. 121 of 2017 to mandate the public publication of all administrative measures and penalties imposed on banks or their personnel for violating anti-money laundering and counter-terrorist financing regulations. Effective immediately, the Authority will maintain a dedicated list of these enforcement actions on its official website to ensure transparency and regulatory compliance. To access this newly published registry, each regulated bank will be individually assigned a unique username and password.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (121/2017)
To All Banks Operating in Palestine
Date: Wednesday, 14 June 2017
Subject: Publication of Measures and Penalties Taken on the Palestine Monetary Authority Website
Pursuant to Article (44) of Legislative Decree No. (20) of 2015 Concerning Combating Money Laundering and the Financing of Terrorism regarding penalties for violating the Decree's provisions, we wish to inform you that the Palestine Monetary Authority will, effective immediately, publish a list on its official website detailing the measures and penalties imposed on any bank or its employees for violating the Anti-Money Laundering and Counter-Terrorist Financing Law or any regulations or instructions issued thereunder.
Please note that, at present, each bank will be provided with a username and password to access this list.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2824487 | Fax: +970 8 2844487
Email: info@pma.ps
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2824487 | Fax: +970 8 2844487
www.pma.ps