Regulatory Alerts2022-01-01
Circular No. 222/2022: Payment - Sanctions and Freezing Lists
The Palestine Monetary Authority issued Circular No. 222/2022 to mandate all payment service companies operating in Palestine to immediately register and subscribe to the Security Council Resolutions Implementation Committee's website. The directive requires the prompt implementation of UN Security Council resolutions regarding North Korea (Resolution 1718) and Iran (Resolution 2231), alongside the continuous electronic updating and documentation of local and international sanctions lists. Non-compliance will result in the strictest penalties enforced by the Authority's supervision group.
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