Regulatory Alerts2018-01-01
Circular No. 21: Management of Money Changers' Accounts
The Palestine Monetary Authority issued Circular No. 21/2018 to enforce strict oversight of money changing activities by requiring all licensed banks to conduct exclusively through dedicated commercial accounts. The directive mandates banks to report any accounts suspected of unauthorized money changing operations and to immediately suspend transactions linked to unlicensed practitioners. Compliance with these measures aims to strengthen regulatory supervision and prevent illicit financial activities within Palestine's banking sector.
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