Regulatory Alerts2017-01-01
Circular 78: Anti-Money Laundering and Counter-Terrorist Financing Procedures Manual
The Palestine Monetary Authority issued Circular 78/2017 to mandate all banks operating in Palestine to adopt and implement the attached Anti-Money Laundering and Counter-Terrorist Financing Procedures Manual. This directive requires financial institutions to fully comply with the manual's guidelines and establish necessary internal measures to ensure operations align with the stipulated regulatory framework. The mandate is legally grounded in Law Decree No. 9 of 2010 concerning Banks and Law Decree No. 20 of 2015 on combating money laundering and terrorist financing, including all subsequent amendments.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (78/2017)
To all banks operating in Palestine
Date: Wednesday, 12 April 2017
Subject: Anti-Money Laundering and Counter-Terrorist Financing Procedures Manual
Based on the provisions of Law Decree No. (9) of 2010 concerning Banks and Law Decree No. (20) of 2015 concerning the Prevention of Money Laundering and the Financing of Terrorism and its amendments, please find attached the Anti-Money Laundering and Counter-Terrorist Financing Procedures Manual for banks.
All banks operating in Palestine are required to comply with the attached manual and take the necessary measures and procedures to operate in accordance with it.
Deputy Governor
Financial Stability Affairs
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps
www.pma.ps