Regulatory Alerts2017-01-01
Circular No. 222 Transfer of Funds, Precious Metals, and Valuable Documents
The Palestine Monetary Authority mandates strict adherence to Circular No. 09/2016 concerning the transfer of funds, precious metals, and valuable documents. The directive explicitly enforces Article 5, Item 1, which prohibits all operating banks from contracting external personnel for transfer operations unless they possess valid licensing from security authorities and the competent regulatory body. This regulatory reminder reinforces the mandatory vetting of third-party logistics providers to maintain operational security and full compliance with Palestinian financial regulations.
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