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2015-01-01

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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Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (01) of 2015

Regarding Weather Conditions

Based on the provisions of Legislative Decree No. (9) of 2010 regarding Banks, particularly Article (72) thereof, and following Instructions No. (2009/02) concerning Business Continuity Management,

and in the interest of the public,

we have issued the following Instructions:

Chapter One: General Provisions

Article (1)

Definitions

The words and phrases used in these Instructions shall have the meanings specified below, unless the context indicates otherwise:

DefinitionMeaning
Event Response PlansComprehensive plans that include the procedures to be taken to respond to emergency weather conditions.
Senior ManagementThe Bank's Board of Directors and Executive Management.
Basic PrecautionsThe minimum procedures that the Bank must consider to handle emergency weather conditions.

Article (2)

Objective and Scope of Application

  1. These Instructions aim to regulate proper preparedness and appropriate response to handle emergency weather conditions at banks.
  2. The provisions of these Instructions shall apply to all banks operating in Palestine.

Chapter Two: Event Response Plans

Article (3)

All banks operating in Palestine must prepare Event Response Plans and provide a copy to the Palestine Monetary Authority. These plans must include, at a minimum, the following:

  1. Safe human resource management, prioritizing the safety of bank employees, and then maintaining the continuity of the bank's core operations.
  2. Information dissemination means that ensure senior management is informed of all areas affected by emergency events, regardless of the scope of impact, whether in a specific geographic area or a specific floor within buildings occupied by the bank, so that operations continue as usual in branches outside the affected area.
  3. A clear decision-making mechanism that includes procedures aligned with the authority granted to those levels during emergencies and crises in advance.
  4. A communication mechanism with internal parties that ensures continuous contact with bank employees during crises.
  5. A communication mechanism with relevant external parties that ensures contact continuity in case assistance is needed.
  6. A mechanism for fulfilling financial and legal obligations that the bank must undertake, ensuring the execution of these obligations during emergency weather periods.

Article (4)

Senior Management Responsibilities

Senior management of the bank must perform the following:

  1. Approve Event Response Plans.
  2. Form crisis management teams.
  3. Evaluate and adjust authorities appropriately during emergency periods.
  4. Receive information and make decisions.
  5. Communicate with official and civil external entities.
  6. Communicate with the media.
  7. Meet the needs of key clients as much as possible.
  8. Allocate appropriate financial resources for plan implementation.

Article (5)

Basic Precautions

The bank must take the following basic precautions before and/or during an emergency weather condition:

  1. Supply ATMs with all currencies.
  2. Ensure the proper functioning of backup power generators.
  3. Ensure sufficient backup fuel is available for electrical generators.
  4. Ensure the proper functioning of heating systems.
  5. Provide necessary first aid supplies to handle emergency health cases.
  6. Ensure availability of equipment necessary to handle snow accumulation, such as four-wheel-drive vehicles, tire chains for driving in snow, and de-icing salt.

Article (6)

Communication with Bank Executive Departments

The Palestine Monetary Authority shall inform bank executive departments of working mechanisms and hours during emergency weather periods, and bank departments shall inform their employees accordingly.

Article (7)

Implementation and Enforcement

All competent authorities shall implement the provisions of these Instructions within their respective jurisdictions. These Instructions shall take effect from the date of issuance, and any provisions conflicting with them are hereby repealed.

Issued in Ramallah on 2015/01/04
Corresponding to: 13 Rabi' al-Awwal 1436 AH

Supervision and Inspection Department
Palestine Monetary Authority

Ramallah - Palestine P.O. Box 452 | Tel: +970 2 2415250 | Fax: +970 2 2409922
Gaza - Palestine P.O. Box 4026 | Tel: +970 8 2825292 | Fax: +970 8 2844487
Email: info@pma.ps | Email: info@pma.ps

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