Regulatory Alerts2023-01-01
Circular No. 15/2023 - Guideline for Politically Exposed Persons (PEPs)
The Palestine Monetary Authority issued Circular No. 15/2023 to mandate compliance with the National Committee for Combating Money Laundering and Terror Financing's Guideline on Politically Exposed Persons (PEPs). Payment service companies operating in Palestine must implement enhanced due diligence procedures for all financial transactions conducted on behalf of PEPs. Additionally, institutions are required to promptly inform and train relevant staff on PEP identification requirements and corresponding regulatory obligations.
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