Regulatory Alerts2025-01-01
Confirmation of Completion of Phase One and Commencement of Phase Two of the iDplus Project
The Palestine Monetary Authority announces the successful completion of Phase One of the iDplus digital financial identity project and mandates banks to implement Phase Two requirements. Banks must transition to iDplus for exclusive login, financial transaction approvals, and identity verification, replacing traditional methods like OTPs and second passwords. Institutions are required to submit details of services relying on OTP or second password mechanisms by November 20, 2025.
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