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.
[Logo of the Palestine Monetary Authority]
Palestine Monetary Authority
Circular No. (134 / 2025) To all banks operating in Palestine Date: Monday, 20 October 2025
Subject: Confirmation of Completion of Phase One and Commencement of Phase Two of the iDplus Project
The Palestine Monetary Authority announces the completion of Phase One of the iDplus digital financial identity project. The Authority appreciates the role of banks and payment service companies in fulfilling the necessary technical requirements within Phase One, as your contribution was instrumental in the success of this phase, which represents a fundamental step toward building infrastructure that supports the completion of the digital transformation strategy in the Palestinian financial sector.
For the purpose of commencing the implementation of the next phase of the project, banks must ensure the completion of the following:
- Accessing Banking Applications via iDplus: When a customer links their bank account with iDplus, access to the banking application must be exclusively through iDplus, thereby replacing other traditional access methods.
- Approvals for Financial Transactions: Linking all approval or rejection processes for financial transactions issued from the customer's accounts through iDplus, thereby enhancing the level of security and reliability.
- Replacing the Verification Mechanism (OTP) and/or (Second Password): Working to replace the verification mechanism based on OTP and/or second password with verification via iDplus.
In this context, we hope to be provided with the services that rely on a verification mechanism through (OTP) and/or (Second Password), no later than 20/11/2025.
We thank you for your continued cooperation in the success of this important project, which constitutes a cornerstone in the development of secure digital services, combating financial fraud, and enhancing financial inclusion in Palestine.
Supervision Group Palestine Monetary Authority