Regulatory Alerts2022-01-01
Circular No. 39/2022: Bank Communication Lines
The Palestine Monetary Authority requires all banks operating in Palestine to submit a comprehensive report on their communication lines within one week. The submission must detail business continuity procedures, the impact of internet outages, data center hosting locations, and a completed technical form covering all internal and external connectivity links. This directive aims to ensure the stability and operational continuity of the banking sector in accordance with established best practices.
Palestine Monetary Authority
Circular No. (39/2022) To all banks operating in Palestine Date: Sunday, 20 February 2022
Subject: Communication Lines in Banks
In order to safeguard the safety and stability of the banking system and ensure the continuity of its operations, and based on the best adopted standards and best practices, as well as our instructions regarding Business Continuity Management in Banks No. (2009/2) related thereto, all banks are requested to provide us, within a maximum of one week from the date of this circular, with the following:
- The procedures adopted by the bank to ensure the continuity of its operations regarding communication lines between branches and the General/Regional Headquarters, or external communication lines.
- The impact of internet/communication line outages from the service provider on the provision of services and operations in branches.
- A list of services and their hosting locations, including: Data Center On-premise, Data Center Colocation (Cloud hosting in Palestine, Cloud hosting outside of Palestine).
- Completion of the attached form regarding communication line data and technologies used, and resending it via email to ITSVD@pma.ps, including the communication mechanism between: a. The main data center and branches. b. The main data center and the Disaster Recovery site. c. The Disaster Recovery site and branches. d. The main data center headquarters and the General Management of foreign banks. e. External communication lines (including VPN lines) for services provided by other parties such as Cloud Services, Swift, Visa, Master Card.
Supervisory Group Palestine Monetary Authority
www.pma.ps Ramallah and Al-Bireh Governorate - Palestine P.O. Box 452 | Tel: +970 2 2415251 | Fax: +970 2 2415310 | info@pma.ps Gaza - Palestine P.O. Box 4026 | Tel: +970 8 284487 | Fax: +970 8 2825713
| Link Name | Link Description | Link Peers | Link Type/Technology | Link Speed | Main or Backup | Service Provider Name | Notes |
|---|---|---|---|---|---|---|---|