Regulatory Alerts2022-01-01
Instructions No. 11 of 2022 Regarding the Licensing and Branching of Money Changers
The Palestine Monetary Authority issued Instructions No. 11 of 2022 to comprehensively regulate the licensing, branching, renewal, and operational compliance of money changers and money changing companies in Palestine. The directives establish strict capital requirements, mandate prior regulatory approval for structural changes, relocations, and branch expansions, and define major regulatory violations subject to penalties. Additionally, the Instructions repeal conflicting prior regulations and enforce annual license renewal, AML/CFT compliance, and supervisory oversight to ensure financial stability and public interest protection.
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