Regulatory Alerts2023-01-01
Circular No. 218 on the Continuity of Operations of Specialized Lending Institutions
The Palestine Monetary Authority issued Circular Number 218/2023 to mandate specialized lending institutions in Palestine to activate business continuity and crisis management plans amid current operational conditions. The directive requires these institutions to optimize human resource deployment, restrict inter-governorate travel, and implement remote work protocols while empowering management to close branches based on field assessments. Compliance must align with Instructions Number 2018/04 to ensure sector stability and employee safety.
Palestine Monetary Authority
Circular No. (218/2023) To all specialized lending institutions operating in Palestine Date: Tuesday, October 10, 2023
Subject: Continuity of Operations of Specialized Lending Institutions
In light of the current circumstances, and to safeguard the stability and continuity of operations of the specialized lending sector and its employees, all specialized lending institutions are required to activate their business continuity and crisis management plans in accordance with the requirements of Instructions No. (2018/04) on business continuity. This includes the optimal utilization of human resources, limiting their travel between governorates, and activating communication and remote work procedures for employees. Furthermore, management of specialized lending institutions is granted the authority to make decisions regarding the closure of any branch based on prevailing field conditions.
Supervision Group Palestine Monetary Authority