Regulatory Alerts2022-01-01
Decree-Law No. 40 of 2022 Concerning the Licensing and Regulation of the Money Exchange Profession
The President of the State of Palestine issued Decree-Law No. 40 of 2022 to comprehensively regulate the licensing, supervision, and operational framework for money exchange professionals in Palestine. The decree mandates that all exchangers obtain prior authorization from the Palestinian Monetary Authority, adhere to strict capital, reporting, and anti-money laundering requirements, and operate within strictly defined permitted and prohibited activities. It establishes detailed procedures for licensing, renewal, inspection, and enforcement, including significant fines, temporary closures, or license revocation for non-compliance, while repealing the previous 2016 regulatory framework.
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