Regulatory Alerts2017-01-01
Circular No. 123-2017 Publication of Measures and Sanctions on the Palestine Monetary Authority Website
The Palestine Monetary Authority issued Circular No. 123-2017 to mandate the public disclosure of enforcement actions against non-compliant entities. Effective immediately, the regulator will publish a comprehensive list on its official website detailing all measures and sanctions imposed on money exchange offices, companies, or their personnel for violating anti-money laundering and counter-terrorist financing regulations. This transparency measure aims to enhance regulatory oversight and deter future compliance failures within the Palestinian financial sector.
Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY
Circular No. (123 / 2017)
To all Money Exchange Offices / Companies Operating in Palestine
Date: Wednesday, June 14, 2017
Subject: Publication of Measures and Sanctions on the Palestine Monetary Authority Website
Pursuant to the provisions of Article (44) of Legislative Decree No. (20) of 2015 concerning the prevention 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 sanctions imposed on any money exchange office/company or its employees resulting from violations of the requirements of the Anti-Money Laundering and Counter-Terrorist Financing Law 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 | Phone: +970 2 2415250 | Fax: +970 2 2409922 | Ramallah - Palestine P.O. Box 452
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487 | Phone: +970 8 2825292 | Fax: +970 8 2844487 | Gaza - Palestine P.O. Box 4026
Email: info@pma.ps | Email: info@pma.ps
www.pma.ps