Regulatory Alerts2022-01-01
Circular No. 214/2022 on Money Transfers
The Palestine Monetary Authority mandates that all licensed exchange companies operating in Palestine must issue and deliver money transfers to beneficiaries in the exact currency sent, unless a written agreement specifies otherwise. This directive responds to numerous consumer complaints and is issued under Legislative Decree No. 40 of 2022 and Instructions No. 06 of 2022. Non-compliant firms will face legal action, including potential revocation or reconsideration of their money transfer operating licenses.
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