The Palestine Monetary Authority published an update from the Middle East and North Africa Financial Action Task Force (MENAFATF) meetings, reporting that Palestine reaffirmed its political commitment to meeting Financial Action Task Force (FATF) requirements and advancing its anti-money laundering and counter-terrorist financing programme as part of the mutual evaluation process. Key milestones cited were the submission of a national strategy based on the national risk assessment findings to the Prime Minister of the State of Palestine and MENAFATF’s adoption of the technical compliance report. The update describes a meeting between the Chairman of the National Committee, Yahya Shunnar, and the MENAFATF President, Samia Abu Sharif, attended by MENAFATF leadership and Palestine’s Financial Follow-Up Director. Shunnar reiterated Palestine’s request to continue and complete the mutual evaluation process, linking completion to financial stability and maintaining correspondent banking relationships. MENAFATF recognised the steps taken and welcomed the request to complete the evaluation. MENAFATF confirmed that its Secretariat will coordinate with Palestine and member countries to finalise the process and to conduct the on-site visit when conditions permit.
Palestine Monetary Authority 2025-05-08
Palestine Monetary Authority updates on MENAFATF mutual evaluation progress including adoption of the technical compliance report
The Palestine Monetary Authority reported on the MENAFATF meetings, highlighting Palestine's commitment to FATF standards and progress in anti-money laundering and counter-terrorist financing. Key developments include submitting a national strategy to the Prime Minister and MENAFATF's adoption of the technical compliance report. MENAFATF acknowledged Palestine's progress and agreed to coordinate the mutual evaluation process, including an on-site visit when feasible.