Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (2017/19)
To all banks operating in Palestine
Date: Wednesday, January 25, 2017

Subject: Money Laundering and Terrorist Financing Risks

In order to ensure the safety and stability of the banking sector in Palestine and to shield it from any risks related to the crime of money laundering and terrorist financing, we emphasize the necessity of full compliance with the provisions of Law Decree No. (20) of 2015 on Combating Money Laundering and Terrorist Financing and its amendments, Presidential Decree No. (14) of 2015 on implementing Security Council resolutions, and compliance with the provisions of the instructions issued by the National Committee for Combating Money Laundering and Terrorist Financing, as well as any other instructions issued under prevailing laws.

We also emphasize the necessity of compliance with the international standards of the Financial Action Task Force (FATF), the freezing and sanction lists issued by the United Nations Security Council, and taking into account local sanction lists issued by countries when conducting and executing financial transactions with banks operating in those countries.

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Governor
Azzam Al-Shawa

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