Regulatory Alerts2024-01-01
Circular No. 9/2024 Warning Against Dealing with Unlicensed Money Changers
The Palestine Monetary Authority issued Circular No. 9/2024 warning all licensed money changers in Palestine against conducting business with individuals or entities operating without a license from the Authority. Citing Article 3 of Law No. 40 of 2022, the Authority emphasized that it will not tolerate violations and will impose the strictest penalties, including the potential revocation of licenses. The circular directs money changers to verify the status of counterparties by consulting the official directory of licensed money changers available on the Authority's website.
Share