Regulatory Alerts2018-01-01
Decision No. (3) of 2018
The Financial Follow-Up Unit of the State of Palestine, via the Palestine Monetary Authority, issued Decision No. (2018/3) to formally designate North Korea and Iran as high-risk jurisdictions and list ten additional countries under compliance action plans. The decision mandates all Palestinian financial institutions to immediately implement enhanced due diligence, ongoing monitoring, and transaction verification measures for the listed jurisdictions. It explicitly prohibits all financial dealings with North Korea, updates previous regulatory directives, and takes effect upon issuance.
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