Regulatory Alerts2021-01-01
Circular No. 102 Review of Business Continuity Plans
The Palestine Monetary Authority issued Circular No. 152/2021 requiring all Palestinian banks to submit a detailed report on their current-year business continuity plan testing for Disaster Recovery and Business Administration sites by September 30, 2021. Banks must additionally provide updated business continuity plans and formally commit to conducting annual reviews of all such plans following regulatory approval of their testing procedures. This directive enforces Basel Committee standards to safeguard the safety, stability, and operational continuity of the national banking sector.
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