Regulatory Alerts2021-01-01
Circular No. 161/2021: Payment - Reliance on Palestine Monetary Authority Instructions and Decisions
The Palestine Monetary Authority issued Circular No. 161/2021 to mandate that all payment service companies and their personnel maintain the highest standards of professionalism and transparency when interacting with clients. The directive explicitly prohibits these entities from invoking the Authority's instructions or decisions as a justification for refusing to establish business relationships or deliver financial services. The Authority further warns that it will impose strict and deterrent penalties on any violators to ensure full compliance with Palestinian consumer protection laws.
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