Regulatory Alerts2017-01-01
Instructions No. 10 of 2017 Regarding the Guide to Rules and Best Practices for Bank Governance in Palestine
The Palestinian Monetary Authority issued Instruction No. 10 of 2017 to implement the Guide to Rules and Best Practices for Bank Governance in Palestine, aligning local regulatory standards with the 2015 Basel Committee principles. The guide establishes fourteen binding principles mandating robust board oversight, comprehensive risk appetite frameworks, the three lines of defense model, executive compensation policies, and enhanced disclosure requirements for all local, foreign, and systemically important banks operating in Palestine. Institutions must adopt an explain-or-comply approach for any deviations, ensuring independent internal audit functions, strict anti-money laundering controls, and sustainable financial stability.
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