Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Circular No. 19 (2017/19)
To all banks operating in Palestine
Date: Wednesday, January 25, 2017

Subject: Money Laundering and Terrorist Financing Risks

In order to ensure the safety and stability of the banking sector in Palestine and shield it from any risks related to the crime of money laundering and terrorist financing, we emphasize the necessity of continuing full compliance with the provisions of Decree-Law No. (20) of 2015 on combating money laundering and terrorist financing and its amendments, and Presidential Decree No. (14) of 2015 on implementing Security Council resolutions, as well as compliance with the directives issued by the National Committee for Combating Money Laundering and Terrorist Financing, and any other directives issued under prevailing laws.

We also emphasize the necessity of adhering to the international standards of the Financial Action Task Force (FATF), the renewal and blocking lists issued by the United Nations Security Council, and considering local blocking lists issued by countries when conducting and executing financial transactions with banks operating in those countries.

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Governor
Azzam Al-Shawa

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