Insurance Unit for Supervised Companies: Monitoring FATF Updates
Circular No. 24 of 2026 calls for monitoring FATF classifications and taking supervisory measures.
Translated by Qiyas from الجريدة — Original source
The unit, in its circular No. 24 of 2026 regarding the update of the Financial Action Task Force (FATF) classifications, clarified that the FATF updated its list of countries that do not apply its recommendations or apply them insufficiently in October 2026.
The unit urged companies to continuously monitor updates to the lists via the FATF website and to take the required supervisory measures regarding transactions linked to countries classified as high-risk. This alert was issued pursuant to Law No. 125 of 2019 concerning the regulation of insurance and its executive regulations, as well as Decision No. 57 of 2023 regarding the issuance of anti-money laundering and counter-terrorist financing rules in the insurance sector.
