Regulatory Alerts2015-01-01
Instructions No. 1 of 2015 Regarding Weather Conditions
The Palestine Monetary Authority issued Instructions No. 1 of 2015 to mandate all Palestinian banks to establish comprehensive Event Response Plans for emergency weather conditions. The regulations require senior management to approve these plans, form crisis teams, allocate resources, and implement specific operational precautions such as maintaining ATM liquidity, backup power, and snow-clearing equipment. Furthermore, banks must ensure continuous internal and external communication, define clear decision-making authorities during crises, and report working hour adjustments to the regulator.
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