Regulatory Alerts2022-01-01
Instruction No. 3 on Regulating the Information Technology Environment
The Palestine Monetary Authority issued Instruction No. 3 of 2022 to regulate the information technology environment for licensed payment service companies in Palestine. The regulation mandates strict governance, security, and operational standards for cloud computing, colocation, and critical payment systems, requiring prior written approval for sensitive deployments. It establishes comprehensive requirements for vendor selection, contractual obligations, disaster recovery, and annual compliance auditing to ensure data confidentiality and business continuity.
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