Law by Decree No. 41 of 2022 concerning National Payments, Licensing and Security-Systems Duty

Law by Decree No. 41 of 2022 concerning National Payments, Art. 8

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What follows is LexLint's own research summary of this law, not legal advice.

In force since 14 August 2022.

A sector security regimes rule binding private bodies.

As of 19 September 2026.

What it requires

This binds a company or a virtual-asset-service provider licensed by the Palestine Monetary Authority (PMA) to provide a payment service or a financial-technology service; providing any such service without a PMA license is separately prohibited by this decree-law (Art. 8(1)).
Comply with the security and protection systems and procedures the Palestine Monetary Authority prescribes by instruction for a licensed payment-service or financial-technology company, apply them, and keep pace with their required development (Art. 8(2)(b)).
No instructions issued under Article 8(2)(b) were located; the specific technical security standard PMA has set for a licensed company, if any, is not described here.

If you get it wrong

Criminal exposureNo

Private right of actionNo

Criminal exposure note

Violating the security-instructions duty by itself is enforced through Article 17(2)'s administrative ladder (a warning, a final warning, a temporary or permanent suspension, a fine, or license revocation), not as a criminal offense. Article 17(4) makes it a separate criminal offense, imprisonment of two weeks to two years or a fine of USD 2,000 to USD 50,000, or both, to provide a payment or financial-technology service at all without the license or approvals this decree-law requires, a different duty from the security-systems requirement.

Who enforces it

Enforcement body

The Palestine Monetary Authority (PMA), which may impose a warning, a final warning, a temporary or permanent suspension of service, a fine, or license revocation against a company or virtual-asset-service provider found in violation of this decree-law or its own instructions; unlicensed operation is separately referable to the Public Prosecution.

Settledness

As of

19 September 2026

Open questions

Has the Palestine Monetary Authority issued the security and protection systems and procedures instructions Article 8(2)(b) directs it to issue, and if so, what specific technical standard do they set?
Does Law by Decree No. 17 of 2024 on Electronic Transactions and Trust Services, named in this decree-law's own legislative history and in Law by Decree No. 4 of 2026's recitals as the jurisdiction's current electronic-transactions statute, carry its own distinct security-of-processing or trust-service-provider security duty?

What it reaches

Obligation class

Security, Licensing

What this law does

Drafted with AI from the cited sources under the direction of UnGovr staff. UnGovr holds editorial responsibility for this page.

Article 8(1) prohibits any person from providing a payment service or a financial-technology service without a license from the Palestine Monetary Authority (PMA). Article 8(2)(b) directs PMA to issue instructions governing, among other things, the activities a licensed company may carry out by electronic means, its application systems, and the required security and protection systems and procedures, their application, and the monitoring of their development.

A company or virtual-asset-service provider found in violation of this decree-law or PMA's own instructions faces an escalating administrative ladder from a warning through a fine of USD 3,000 to USD 250,000 to license revocation. Providing a payment or financial-technology service without the required license or approval at all is a separate criminal offense punishable by imprisonment of two weeks to two years or a fine of USD 2,000 to USD 50,000, or both.

When LexLint raises it

provides_financial_services

Read the law

Official Arabic text of Law by Decree No. 41 of 2022 concerning National Payments
hosted as a PDF on the Palestine Monetary Authority's own Legal Framework page (pma.ps) Official Gazette Al-Waqai Al-Filastiniya issue 193, 2022-08-14

Every line above is drawn from the primary source linked here, read on the date shown. This is a research summary, not legal advice.

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