Regulatory Alerts2023-01-01
Circular No. 25/2023 for Money Exchange Companies: Guideline on Implementing UN Security Council Resolutions
The Palestine Monetary Authority issued Circular No. 25/2023 to direct all money exchange companies in Palestine to implement the UN Security Council Resolutions Implementation Committee's Guideline. The circular mandates these entities to monitor the committee’s official website, promptly document targeted financial sanctions, and train relevant staff on mechanisms for combating terrorist financing and weapons of mass destruction proliferation. Compliance requires immediate action to ensure accurate, timely application of all designated financial measures across the sector.
[Logo of the Palestine Monetary Authority]
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (25 / 2023) To all Money Exchange Companies operating in Palestine Date: Tuesday, 07 February 2023
Subject: The Guideline on Implementing United Nations Security Council Resolutions
Attached is the Guideline approved by the Members of the UN Security Council Resolutions Implementation Committee regarding the implementation of UN Security Council resolutions. Accordingly, it is requested to take the necessary measures in this regard, including:
- Monitoring the official website of the UN Security Council Resolutions Implementation Committee, and working to document the application of targeted financial sanctions promptly and without delay.
- Informing and training relevant employees on the mechanism for implementing UN Security Council resolutions related to combating terrorist financing and the proliferation of weapons of mass destruction.
Supervision Group Palestine Monetary Authority
Copy to: His Excellency the Attorney General - Chairman of the UN Security Council Resolutions Implementation Committee.