Circular No. 278 (2022) on Working in Emergency Situations

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Palestine Monetary Authority
PALESTINE MONETARY AUTHORITY

Circular No. (278 /2022)
To all specialized lending institutions operating in Palestine Date: Wednesday, 02 November, 2022

Subject: Working in Emergency Situations

In its commitment to ensuring that lending institutions take the necessary measures to guarantee the safety of premises and employees during partial or total closures, and to avoid operational disruptions and ensure continuity, the Authority requests lending institutions to comply with the following:

1. Prepare a crisis management plan to ensure the continuous performance of functions and operations in accordance with established standards.
2. Establish necessary arrangements to organize employee working hours, and notify them of working hour instructions immediately in emergency situations and closures.
3. Establish necessary arrangements to inform the customer base of any modifications or changes to the operations and working hours of lending institutions through available channels and means.
4. Comply with closing branch premises in closure zones, and organize branch operations according to management's assessments.
5. Emphasize the role of the institution's compliance monitoring department or the designated person to monitor adherence to working hour instructions in closure zones.
6. The Authority will issue its instructions to lending institutions through available communication channels via the Consumer Protection Department within the Market Discipline Department, and through direct communication with lending institution management whenever necessary.

Supervisory Group
Palestine Monetary Authority

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