Regulatory Alerts2022-01-01
Lending-2022- Circular No. 211 Amendment to the Anti-Money Laundering and Counter-Terrorism Financing Law
The Palestine Monetary Authority issued Circular No. 211/2022 to direct all specialized lending institutions in Palestine to comply with Legislative Decree No. ( ) of 2022, which formally amends Article 47(1) of the Anti-Money Laundering and Counter-Terrorism Financing Law. The amendment authorizes the Court of First Instance or relevant competent court, upon the Public Prosecutor's request and without prior notice, to lift provisional seizures while preserving bona fide third-party rights, with the seizure decision remaining subject to appeal. All relevant authorities must enforce these provisions effective upon the decree's official publication.
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