Regulatory Alerts2018-01-01
Circular No. 15 Foreign Company Accounts
The Palestine Monetary Authority issued Circular No. 15/2018 mandating that all banks operating in Palestine must finalize the regularization of foreign company accounts, including non-compliant Israeli entities, with the Ministry of National Economy's Companies Registrar by February 28, 2018. The directive builds upon previous regulatory guidance and explicitly requires financial institutions to apply enhanced due diligence measures to all transactions associated with these accounts. Compliance is strictly enforced to ensure alignment with national laws governing corporate account structures and financial oversight.
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