Regulatory Alerts2023-01-01
Instructions No. (15) of 2023 concerning Security, Safety, and Protection
The Palestine Monetary Authority issued Instructions No. (15) of 2023 mandating all licensed banks to fortify high-risk branches and offices with electronically controlled access barriers, bulletproof glass, and multifactor authentication systems to prevent robberies and unauthorized entry. Banks must submit a compliance report detailing their implementation measures to the Authority within one month of the instructions' issuance on September 4, 2023. These security and safety protocols apply immediately across all banking operations under the regulator's jurisdiction to safeguard institutional assets and personnel.
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