Regulatory Alerts2021-01-01
Decision No. (3) of 2021 Regarding High-Risk Countries and Countries Under Enhanced Follow-Up
The Palestine Monetary Authority issued Decision No. (3) of 2021 to enforce the Financial Follow-Up Unit's Decision No. (2021/3) concerning the updated lists of high-risk and enhanced follow-up countries. This decision mandates all banks operating in Palestine to implement the necessary legal measures and countermeasures aligned with the Financial Action Task Force (FATF) classifications. The directive specifically maintains sanctions against North Korea and Iran while updating the enhanced follow-up list by removing Botswana and Mauritius and adding Jordan, Turkey, and Mali.
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