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2022-01-01

Circular No. 173 of 2022 Regarding Implementation Instructions for UN Security Council Resolutions – Payment Companies

The Palestine Monetary Authority issued Circular No. 173 of 2022 to enforce Instructions No. 1/2022, which establish a dedicated electronic platform for the immediate publication and dissemination of UN and local sanctions lists related to terrorist financing and weapons proliferation. The instructions mandate that the Committee Secretariat update these lists within 16 hours of any changes and require all financial institutions, non-financial businesses, and designated professionals to freeze targeted assets within 8 hours of publication without prior notice. Furthermore, the directives outline specific delisting procedures for both UN and local lists and assign oversight responsibilities to the Committee Secretariat and Chairman to ensure full compliance with UN Security Council resolutions.

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Palestine Monetary Authority

Circular No. (173/2022) To all payment service companies operating in Palestine Date: Thursday, 04 August, 2022

Subject: Implementation Instructions for UN Security Council Resolutions

A copy of the instructions issued by the UN Security Council Resolutions Implementation Committee No. (1) of 2022 regarding the implementation of UN Security Council resolutions and the dedicated website for sanctions implementation is attached. You will also find, at the electronic link indicated below, the registration and subscription link to the Committee's website.

Accordingly, immediate action is required to implement the provisions of the instructions and to subscribe to the Committee's website.

Supervisory Group [Signature] Palestine Monetary Authority

Copies:

  • His Excellency/ The Public Prosecutor - Honorable Chairman of the UN Security Council Resolutions Implementation Committee
  • Gentlemen/ The Financial Follow-up Unit

www.pma.ps Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452 | Tel: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825713 | Fax: +970 8 2844487

Instructions No. (1/ 2022) Regarding the Implementation of UN Security Council Resolutions

Based on the provisions of Law No. (20) of 2015 regarding the prevention of money laundering and terrorist financing and its amendments, particularly Article (47) thereof, and Presidential Decree No. (14) of 2015 regarding the implementation of UN Security Council resolutions, particularly Article (10) thereof, and after reviewing the amended internal regulations of the UN Security Council Resolutions Implementation Committee, and based on the powers delegated to us, and in pursuit of the public interest, we have issued the following instructions:

Article (1)

  1. For the purposes of applying the provisions of these instructions, the words and phrases contained therein shall have the meanings assigned to them below, unless the context indicates otherwise:

The Committee: The UN Security Council Resolutions Implementation Committee established pursuant to Article (47) of Law No. (20) of 2015 regarding the prevention of money laundering and terrorist financing and its amendments.

UN List Related to Countering Terrorist Financing: A list of all persons and entities subject to targeted financial sanctions pursuant to relevant UN Security Council resolutions on terrorist financing, maintained by any sanctions committee, along with all information pertaining to their identification.

Local List: A list containing the names of persons and entities listed by the Committee.

UN Security Council Resolutions Related to Suppressing the Proliferation of Weapons of Mass Destruction: Resolutions issued by the UN Security Council under Chapter VII of the UN Charter regarding the prevention and combating of proliferation financing, and all current, future, and subsequent related resolutions.

The Website: The dedicated electronic website for sanctions implementation lists, established pursuant to the provisions of these instructions.

  1. Words and phrases not included in paragraph (1) of these instructions shall have the meanings assigned to them in Law No. (20) of 2015 regarding the prevention of money laundering and terrorist financing and its amendments, and Presidential Decree No. (14) of 2015 regarding the implementation of UN Security Council resolutions, unless the context indicates otherwise.

Article (2) A website shall be established pursuant to the provisions of these instructions for the purpose of publishing and disseminating the UN List and the Local List - and any amendments thereto - to the supervisory and competent authorities, financial institutions, businesses, non-financial professions, and any other person or entity.

Article (3) The Committee Secretariat shall exercise the competencies and authorities stipulated in these instructions.

Article (4) The Committee Secretariat shall undertake the following responsibilities:

  1. Publish the UN List related to countering terrorist financing and the Local List on the electronic website and disseminate both lists to the specified supervisory and competent authorities, financial institutions, businesses, and non-financial professions immediately and without delay, and within a maximum of 16 hours from the issuance of these instructions.
  2. Publish amendments to the UN List related to countering terrorist financing and the Local List via the electronic website, including any additions, deletions, or changes to listing information, and disseminate them to the specified supervisory and competent authorities, financial institutions, businesses, and non-financial professions immediately and within a maximum of 16 hours from the publication of these amendments on the relevant UN website.
  3. The publication and dissemination stipulated in paragraphs (1) and (2) of this Article must include guidelines or a link regarding the obligations of the specified supervisory and competent authorities, financial institutions, businesses, non-financial professions, and any other person or entity to act and take the necessary measures to implement or lift freezing and blocking measures.
  4. The publication and dissemination stipulated in paragraphs (1) and (2) of this Article must include the name of the person or entity listed or delisted from the UN List related to countering terrorist financing and the Local List, and the name of every person or entity appearing on the UN List related to countering terrorist financing and the Local List subject to an amendment, along with full listing information and any explanatory summary related to that listing.
  5. For persons or entities newly listed on the UN List related to countering terrorist financing, the publication and dissemination stipulated in paragraphs (1) and (2) of this Article must include guidelines on submitting a request to delist their names to the UN Ombudsman Office or to the UN Focal Point for Delisting, as applicable.
  6. For persons or entities newly listed on the Local List, the publication and dissemination stipulated in paragraphs (1) and (2) of this Article must include

guidelines or a link to guidelines regarding submitting a request to delist their names to the UN Security Council Resolutions Implementation Committee. 7. Monitor the publication of both lists and any amendments thereto in the Official Gazette.

Article (5) The specified financial institutions, businesses, non-financial professions, and any other person or entity must take the necessary measures to freeze all funds or other assets, within 8 hours of the publication of the UN List related to countering terrorist financing or the Local List on the Committee's electronic website, or upon the publication of any new listing or amendment to these lists, without prior notice to the listed person or entity.

Article (6) The Committee Secretariat shall monitor the implementation of the content of UN Security Council resolutions related to suppressing the proliferation of weapons of mass destruction.

Article (7) The Committee Chairman shall take the necessary measures to implement the provisions of these instructions.

Article (8) All entities shall implement the provisions of these instructions as applicable to them, and they shall take effect from the date of issuance and be published in the Official Gazette. Issued in Ramallah on: 7/ 2022.

Chairman and Members of the UN Security Council Resolutions Implementation Committee:-

1- Chairman of the Committee: [Signature] 2- Committee Member: Farid Ghanam [Signature] 3- Committee Member: Mohammad Munasarah [Signature] 4- Committee Member: Firas Marar [Signature] 5- Committee Member: Khaled Al-Eisaoui [Signature] 6- Committee Member: Hisham Jara [Signature] 7- Committee Member: Hazem Al-Masri [Signature] 8- Committee Member: Yousef Habash [Signature] 9- Committee Member: Wael Jaddallah [Signature] 10- Committee Member: Yasser Abu Saloum [Signature] 11- Committee Member: [Signature] 12- Committee Member: Mohammad Subhi [Signature] 13- Committee Member: Dawood Shalabi [Signature]

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