Regulatory Alerts2022-01-01
Circular No. 255/2022 - Operational Events and Risks for Money Changers
The Palestine Monetary Authority issued Circular No. 255/2022 to mandate money changers in Palestine to mitigate operational risks and ensure sector stability. The directive requires firms to maintain valid insurance policies commensurate with cash holdings, install and connect fire safety equipment to police and civil defense, and strictly adhere to camera synchronization, daily cash reconciliation, and immediate incident reporting protocols. All operational events must be promptly reported via designated email channels using the attached standardized form, with discrepancies resolved according to accounting standards.
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