Regulatory Alerts2017-01-01
Circular No. 121: Publication of Measures and Penalties on the Authority's Website
The Palestine Monetary Authority issued Circular No. 121/2017 to mandate the public publication of a list detailing administrative measures and penalties imposed on banks and their employees for violating anti-money laundering and counter-terrorist financing regulations. Effective immediately, the Authority will maintain this disciplinary record on its official website to enhance transparency and regulatory compliance. To access the list, each regulated bank will be issued unique login credentials by the Supervision and Inspection Department.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (121/2017)
To All Banks Operating in Palestine
Date: Wednesday, 14 June 2017
Subject: Publication of Measures and Penalties Taken on the Authority's Website
Pursuant to the provisions of Article (44) of Law Decree No. (20) of 2015 concerning the combating of money laundering and terrorist financing regarding the penalty for violating the provisions of the Law Decree, we wish to inform you that the Palestine Monetary Authority will, effective from this date, publish a list on its official website detailing the measures and penalties taken against any bank or its employees resulting from violations of the requirements of the Anti-Money Laundering and Counter-Terrorist Financing Law or any regulations or instructions issued thereunder.
Please note that, at present, each bank will be provided with a username and password to access this list.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
www.pma.ps