Regulatory Alerts2021-01-01
Instructions No. 2-2021 on Amending Ownership of Payment Service Companies
The Palestine Monetary Authority issued Instructions No. 2-2021 to amend the licensing framework for payment service companies in Palestine. The directive caps the ownership stake of any bank or telecommunications company in a payment service company at 49% of its capital. Licensed entities are mandated to align their corporate structures with this new ownership limit by December 31, 2021.
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