Regulatory Alerts2022-01-01
Circular No. 210 Amendment to the Anti-Money Laundering and Counter-Terrorist Financing Law
The Palestine Monetary Authority issued Circular No. 210/2022 to direct all money exchangers operating in Palestine to comply with the newly amended provisions of Legislative Decree No. 39 of 2022 on combating money laundering and terrorist financing. The amendment modifies Article 47(1) to empower the Court of First Instance or competent court, upon the Public Prosecutor's request and without prior notice, to impose precautionary seizures while safeguarding the rights of bona fide third parties. All relevant authorities are mandated to implement the decree immediately upon its September 10, 2022 issuance and publish it in the Official Gazette.
Share