Regulatory Alerts2021-01-01
Instructions No. 2 of 2021 Regarding the Merger and Acquisition of Assets and Liabilities of Money Changers
The Palestine Monetary Authority issued Instructions No. 2 of 2021 to regulate the merger of money changer companies and the acquisition of assets and liabilities from individual money changers. The regulations establish strict eligibility criteria, including prior written approval, capital increases, and clean regulatory records, while defining specific application procedures and timelines for both transaction types. Additionally, the instructions introduce temporary branch expansion incentives and clarify operational requirements such as internal controls, security deposits, and enforcement penalties.
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