Regulatory Alerts2026-01-01
Decision No. (55) of 2022 Regarding the Amendment of Decision No. (132) of 2011 on the Licensing and Supervision System for Specialized Lending Institutions and Its Amendments
President Mahmoud Abbas, acting as Chairman of the Executive Committee of the PLO, issued Decision No. (55) of 2022 to amend Decision No. (132) of 2011, thereby updating the licensing and supervision framework for specialized lending institutions in Palestine. The amended system redefines these institutions as licensed legal entities, introduces a formal definition for branches, and mandates prior Monetary Authority approval for new company registrations and operational licenses. Furthermore, it expands permissible activities to include retail transfers, agent-based payments and micro-insurance, equity investments, and borrowing, while imposing strict anti-money laundering/counter-terrorist financing compliance obligations, risk-based management requirements, and competency standards for market entry.