Regulatory Alerts2023-01-01
Circular No. 31: Anti-Money Laundering and Counter-Terrorist Financing Instructions No. 4 of 2022
The Palestine Monetary Authority issues Circular No. 31/2023 to attach the Anti-Money Laundering and Counter-Terrorist Financing Instructions No. 4 of 2022, requiring all Palestinian banks to immediately implement its provisions and update their internal policies and procedures. The circular mandates that financial institutions align their operational frameworks with the newly published Official Gazette directives to ensure regulatory compliance. Furthermore, it formally repeals all preceding instructions issued by the National Committee for Anti-Money Laundering and Counter-Terrorist Financing, as stipulated in Article 38 of the updated regulations.
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