Regulatory Alerts2025-01-01
Palestine Monetary Authority Circular No. 19 (2025): High-Risk and Enhanced Monitoring Jurisdictions
The Palestine Monetary Authority issued Circular No. 19 (2025) to enforce Decision No. (2025/2) from the Financial Follow-Up Unit, requiring specialized lending institutions to apply enhanced due diligence and risk-based approaches towards high-risk and grey-listed jurisdictions. The circular mandates specific countermeasures for black-listed countries including North Korea, Iran, and Myanmar, while updating the grey list by adding Bolivia and the UK Virgin Islands and removing Croatia, Mali, and Tanzania. Institutions must integrate FATF mutual evaluation findings into their self-assessments and adhere to strict prohibitions on correspondent banking and branch establishment in black-listed jurisdictions.
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