Regulatory Alerts2026-01-01
Added · Updated
Circular No. 18/2026: High-Risk Countries and Countries Under Enhanced Follow-Up
The Palestine Monetary Authority issued Circular No. 18/2026 to mandate compliance with the Financial Follow-Up Unit's Decision No. (2026/2) regarding updated lists of high-risk and enhanced follow-up countries. The directive requires financial institutions and designated non-financial businesses to apply enhanced due diligence and specific prohibitions for jurisdictions on the black list, including North Korea, Iran, and Myanmar. Additionally, it updates the grey list by adding Bosnia and Herzegovina and Iraq while removing Algeria and Namibia, requiring institutions to consider identified strategic deficiencies when conducting self-assessments of money laundering and terrorist financing risks.