Regulatory Alerts2018-01-01
Circular No. 178 (2018): Reporting and Communication Mechanism with the Financial Monitoring Unit
The Palestine Monetary Authority issued Circular No. 178 (2018) mandating that all specialized lending institutions in Palestine must exclusively use the GoAML electronic platform for reporting and communication with the Financial Monitoring Unit. This directive, effective September 1, 2018, requires strict compliance with the attached user guide for registration and reporting to ensure confidentiality and speed in handling suspicious activity reports. The regulation is grounded in Article 14 of Law No. 20 of 2015 concerning the combating of money laundering and terrorist financing.
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