Regulatory Alerts2023-01-01
Lending-2023 Circular No. 14 Guideline for High-Risk Politically Exposed Persons
The Palestine Monetary Authority issued Circular No. 16/2023 to require all lending institutions operating in Palestine to implement the approved Guideline for High-Risk Politically Exposed Persons. Institutions must inform and train relevant staff on identification requirements and apply enhanced due diligence to financial transactions conducted for these individuals. This directive ensures consistent risk management practices across the lending sector by aligning operational procedures with national anti-money laundering standards.
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