Regulatory Alerts2025-01-01
Circular No. 52/2025: Launch of the Digital Financial Identity System iDplus
The Palestine Monetary Authority issued Circular No. 52/2025 to mandate the phased launch of the iDplus digital financial identity system for all banks operating in Palestine. The implementation begins with a pilot phase from June 21 to June 30, 2025, requiring banks to encourage staff registration and report technical issues daily. This initial stage serves as a critical trial to resolve challenges before the official go-live date scheduled for July 1, 2025.
[Palestine Monetary Authority Logo]
PALESTINE MONETARY AUTHORITY
Circular No. ( 52 / 2025 ) To all banks operating in Palestine Date: Monday, June 2, 2025
Subject: Launch of the Digital Financial Identity System iDplus
As part of the Palestine Monetary Authority's efforts to implement its strategy aimed at digital transformation and developing the infrastructure of the Palestinian financial sector, and enhancing the integration of financial technology in the banking industry, it has been decided to launch the Digital Financial Identity System iDplus in two phases as follows:
- Phase One: Pilot Launch: June 21, 2025, and targets testing the system through bank staff registration.
- Phase Two: Official Launch (Go live): July 1, 2025, and the date will be officially announced upon completion of Phase One.
Accordingly, all banks are requested to comply with the following during Phase One:
- Encourage all bank staff to create a digital financial identity through the new system.
- Report to us daily on any observations, difficulties, or technical or operational problems encountered during the registration process, via the following email address: malagha@pma.ps
We confirm that this pilot phase represents a fundamental step in ensuring the success of the official launch, as it provides an opportunity to address any potential challenges before rolling out the system on a wide scale.
Supervisory Group Palestine Monetary Authority