Regulatory Alerts2025-01-01
Decision No. (3) of 2025
The Palestine Monetary Authority and Financial Follow-Up Unit issued Circular No. 137/2025 and Decision No. (2025/3) to implement FATF's updated lists of High-Risk (Black List) and Enhanced Monitoring (Grey List) countries. The directives require all financial institutions, specified non-financial businesses and professions in Palestine to apply risk-based due diligence measures, including enhanced scrutiny for high-risk jurisdictions like North Korea and Iran, while updating the Grey List by removing South Africa, Nigeria, Mozambique, and Burkina Faso. Furthermore, entities must conduct self-assessments of AML/CFT risks, adhere to targeted financial sanctions, and utilize official FATF/MENAFATF portals to access mutual evaluation reports and action plans for ongoing compliance.