Regulatory Alerts2017-01-01
Circular No. 122 of 2017: Publication of Measures and Penalties on the Palestine Monetary Authority Website for Lending Institutions
The Palestine Monetary Authority issued Circular No. 122 of 2017 to mandate the public publication of all administrative measures and penalties imposed on specialized lending institutions and their personnel for violating anti-money laundering and terrorist financing regulations. Effective immediately, the regulator will maintain an updated list of these enforcement actions on its official website to ensure transparency and regulatory compliance. This directive applies to all specialized lending institutions operating within Palestine and serves as a formal notice of ongoing supervisory oversight under Article 44 of Legislative Decree No. 20 of 2015.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (122/2017)
To all specialized lending institutions operating in Palestine
Date: Wednesday, 14 June 2017
Subject: Publication of Measures and Penalties on the Palestine Monetary Authority Website
Pursuant to Article 44 of Legislative Decree No. (20) of 2015 concerning the combating of money laundering and terrorist financing regarding the penalty for violating the provisions of the Legislative Decree, we wish to inform you that the Palestine Monetary Authority will, effective from this date, publish a list on its official website detailing the measures and penalties imposed on any specialized lending institution or its employees resulting from non-compliance with the requirements of the Law on Combating Money Laundering and Terrorist Financing or any regulations or directives issued thereunder.
Supervision and Inspection Department
Palestine Monetary Authority
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps
www.pma.ps
Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps