Regulatory Alerts2022-01-01
Circular No. 214 (2022) on Money Transfers
The Palestine Monetary Authority mandates that all licensed exchange companies operating in Palestine must issue and deliver money transfers to beneficiaries in the exact currency sent, unless a written agreement specifies otherwise. This directive addresses widespread complaints of unauthorized currency conversion and is enforced under Law Decree No. (40) of 2022 and Instructions No. (06) of 2022. Non-compliant firms will face legal action, including the potential reconsideration or revocation of their money transfer operating approvals.
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