The Palestine Monetary Authority has inked a $600K pact with DLA Piper to strengthen its relationship with the US Government and American correspondent banks.
PMA compliance with anti-money laundering and economic sanction laws/regulations are other priorities.
DLA Piper will bill $50K per-month during next 12 months, according to the agreement signed by Jihad Alwazir, PMA governor.
Partner Richard Newcomb, who has worked with front-line states and multilateral organizations such as the United Nations and European Union, on compliance with asset controls, embargoes and sanctions leads DLA Piper's four-member team on the PMA business.
Other staffers will assist on the account on an as-needed basis.
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