Regulatory Alerts2025-01-01
Circular No. 39: Network Connectivity with the Palestine Monetary Authority
The Palestine Monetary Authority issued Circular No. 39/2025 to enhance banking network availability and upgrade connection speeds, transitioning from a legacy single-provider 8M Paltel system to a multi-network configuration. The directive requires all operating banks to adopt the specified new speed tiers and corresponding monthly fees outlined in the table, while retaining a 4M disaster recovery link at $1,656 per month. These structural upgrades directly support business continuity mandates and reduce service interruption risks across the Palestinian financial sector.
[Logo of the Palestine Monetary Authority]
Palestine Monetary Authority PALESTINE MONETARY AUTHORITY
Circular No. (39/2025) To all banks operating in Palestine Date: Sunday, May 11, 2025
Subject: Network Connectivity with the Palestine Monetary Authority
To safeguard the soundness and stability of the banking sector, ensure business continuity, and based on approved standards, best practices, and our instructions regarding Business Continuity Management in Banks No. (2022/5), and with the aim of maintaining continuous service and system delivery, mitigating interruption risks, and following Circular No. 2025/5 dated January 16, 2025, regarding network connectivity with the Palestine Monetary Authority, we hereby inform you that bank network availability has been enhanced and connection line speeds upgraded as shown in the table below, which details the new speeds and the monthly costs incurred by each bank.
| No. | Item | Monthly Fees ($) VAT included |
|---|---|---|
| 1 | Paltel Primary Network (20M) | 2,940 |
| 2 | Paltel Secondary Network (10M) | |
| 3 | Mada Backup Network (10M) | |
| 4 | Paltel DR Banking Network (16M) |
Please note that the previous bank network relied on a single provider (Paltel) at 8M speed, and a connection line at 4M speed linking the Palestine Monetary Authority's main data center to banks' disaster recovery sites (DRS), at a monthly cost of $1,656.
Supervisory Group Palestine Monetary Authority