Regulatory Alerts2021-06-30
Added · Updated
Instructions No. 5 Regarding the Regulation of the Relationship Between Payment Service Companies and Agents
The Palestine Monetary Authority issued Instructions No. 5 (2021) to regulate and standardize the operational relationship between licensed payment service companies and their principal and sub-agents in Palestine. The directives mandate strict pre-approval processes, comprehensive due diligence and KYC requirements, liquidity management protocols, and explicit transaction limits for agent-funded e-wallet top-ups and cash withdrawals. Furthermore, the instructions establish clear supervisory obligations, automatic termination clauses for non-compliance, and explicitly repeal the previous 2020 agent regulations to ensure secure and transparent payment service delivery.