Regulatory Alerts2024-01-01
Palestine Monetary Authority Circular No. 21 of 2024 on Operational Events Related to Information Technology – Information Security
The Palestine Monetary Authority issued Circular No. 21 of 2024 to mandate comprehensive information security frameworks and standardized reporting protocols for all licensed financial institutions. The circular requires entities to implement robust cybersecurity measures, conduct regular risk assessments, and report significant operational IT events within stipulated timeframes to ensure regulatory compliance. Effective immediately upon issuance, the directive supersedes prior guidelines and subjects non-compliant institutions to supervisory audits and regulatory sanctions.
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