Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. (15/2018)

To all banks operating in Palestine
Date: Tuesday, February 13, 2018

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Subject: Foreign Company Accounts

In order to regulate the status of foreign company accounts in compliance with the law, and in reference to our Circular No. (2017/273) regarding the regularization of accounts opened by these companies, including Israeli companies that have not completed legal procedures, we emphasize the necessity of completing the regularization of these accounts with the Companies Registrar at the Ministry of National Economy by no later than 2018/02/28.

We highlight the necessity of implementing enhanced due diligence measures regarding financial transactions related to these accounts.

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Supervision and Inspection Department
Palestine Monetary Authority

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