Regulatory Alerts2026-02-19
Added · Updated
Circular No. 2026/21: High-Risk Countries and Countries Under Enhanced Monitoring
The Palestine Monetary Authority requires all banks operating in Palestine to implement the Financial Follow-Up Unit's Decision No. 2026/1, which updates the lists of high-risk countries and countries under enhanced monitoring. Financial institutions must apply enhanced due diligence and specific counter-measures for North Korea, Iran, and Myanmar, and consider deficiencies in AML/CFT systems for countries on the grey list, including the newly added Kuwait and Papua New Guinea. The decision mandates adherence to risk-based approaches and immediate reporting of suspicious transactions.