Regulatory Alerts2022-01-01
Law Decree No. 41 of 2022 Concerning National Payments
The President of the State of Palestine issued Law Decree No. 41 of 2022 to regulate national payment systems, electronic payments, and emerging financial technologies under the exclusive supervision of the Palestinian Monetary Authority. The decree establishes comprehensive definitions, licensing requirements, and operational rules for payment service providers, fintech companies, and virtual asset service providers, while banning unregulated trading of virtual assets. It further mandates strict oversight, financial guarantees, anti-money laundering compliance, and imposes significant penalties for non-compliance or unlicensed activities.
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