Regulatory Alerts2025-01-01
Circular No. 123/2025: Freezing Bank Accounts of Al-Sadeeq Al-Wafee Charity Association
The Palestine Monetary Authority issued Circular No. 123/2025 to all banks operating in Palestine, instructing them to freeze all bank accounts of the Al-Sadeeq Al-Wafee Charity Association (Registration No. 685-JR). This directive follows a request from the Ministry of Interior's General Administration of Non-Governmental Organizations and Public Affairs, citing the need for the association to rectify its status. The freeze remains in effect until the Ministry issues a formal letter authorizing the reactivation of the accounts.
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