Regulatory Alerts2025-01-01
Circular No. 2 on Lifting of Banking Secrecy Decisions
The Palestine Monetary Authority issued Circular No. 2/2025 to address delays by banks in responding to banking secrecy lifting decisions communicated by the Corruption Crimes Prosecution Office. The circular instructs all operating banks to promptly reply to these requests in compliance with prevailing Palestinian legislation, thereby preventing investigation bottlenecks. This directive follows a formal letter from the Attorney General highlighting that slow bank responses are obstructing ongoing investigative procedures.
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