Regulatory Alerts2023-01-01
Circular No. 13 Guideline for Risk-Based Politically Exposed Persons
The Palestine Monetary Authority issued Circular No. 13 / 2023 to attach the approved Guideline for Risk-Based Politically Exposed Persons. The circular mandates all banks operating in Palestine to implement necessary measures, including informing and training relevant staff on PEP identification requirements. Furthermore, banks must apply enhanced due diligence measures to all financial transactions executed on behalf of these identified individuals.
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