Regulatory Alerts2022-01-01
Circular No. 212: Amendment to the Anti-Money Laundering and Combating the Financing of Terrorism Law
The Palestine Monetary Authority issued Circular No. 212/2022 to direct all payment service companies to comply with the newly amended Anti-Money Laundering and Combating the Financing of Terrorism Law. The circular transmits Legislative Decree No. ( ) of 2022, which revises Article 47(1) of the 2022 original decree to authorize courts, upon the Public Prosecutor's request and without prior notice, to impose provisional seizures that remain subject to appeal. All relevant authorities must enforce the decree effective from its September 16, 2022 issuance and ensure its publication in the Official Gazette.
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