Regulatory Alerts2020-01-01
Circular No. 85: Taking Precautions and Caution in Emergency Situations
The Palestine Monetary Authority issued Circular No. 85/2020 to all operating banks, mandating strict precautionary measures to prevent the exploitation of emergency situations for money laundering or terrorist financing. The directive requires financial institutions to maintain uninterrupted compliance operations and ensure full adherence to the Anti-Money Laundering and Counter-Terrorist Financing requirements established by Law Decree No. 20 of 2015 and its implementing regulations. Banks must implement enhanced vigilance protocols immediately to safeguard financial stability and mitigate emerging illicit finance risks during crises.
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