Regulatory Alerts2026-01-01
Law No. (39) of 2022 on Combating Money Laundering and Terrorist Financing
The President of the State of Palestine and Chairman of the PLO Executive Committee issued Law No. 39 of 2022 to establish a comprehensive legal framework for combating money laundering and terrorist financing. The legislation defines key terms, designates the Palestinian Monetary Authority as the supervisory body and establishes a dedicated Financial Intelligence Unit to oversee compliance across financial institutions, specified non-financial businesses and professions, and virtual asset service providers. It mandates a risk-based approach, enforces strict customer due diligence and transparency requirements for legal persons and non-profit organizations, and criminalizes money laundering and terrorist financing offenses with clear territorial application and enforcement mechanisms.