Regulatory Alerts2026-02-19
Added
Circular No. 2026/6: High-Risk Countries and Countries Under Enhanced Monitoring
The Palestine Monetary Authority requires all specialized lending institutions to implement enhanced due diligence and risk-based approaches for transactions involving high-risk countries (North Korea, Iran, Myanmar) and countries under enhanced monitoring (the FATF grey list). The circular mandates specific prohibitions for high-risk jurisdictions, including bans on correspondent banking and branch establishment, while requiring enhanced monitoring and reporting for grey-listed nations. It updates the grey list by adding Kuwait and New Caledonia and requires institutions to consider identified deficiencies in AML/CFT systems when conducting self-assessments.