Regulatory Alerts2022-01-01
Circular No. 304/2022: Establishment and Foundation of an Unlicensed Bank
The Palestine Monetary Authority issued Circular No. 304/2022 to formally deny the licensing status of an entity claiming to be the "Palestinian Waqf Bank" in Gaza. The regulator explicitly states that no banking license has been granted to this entity or any other bank recently under Banking Law No. 9 of 2010. Consequently, all licensed money exchangers operating in Palestine are strictly prohibited from conducting any transactions or business dealings with the unlicensed entity.
Share