Regulatory Alerts2022-01-01
Circular No. 2221: Sanctions and Freezing Lists
The Palestine Monetary Authority issued Circular No. 221/2022 to mandate all operating banks in Palestine to immediately implement UN Security Council resolutions, specifically Resolutions 1718 (DPRK) and 2231 (Iran). Financial institutions are required to electronically update their internal sanctions and freezing lists directly from official sources without delay and document all updates. The regulator explicitly warns that strict penalties will be enforced against any non-compliant entities.
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