Regulatory Alerts2023-01-01
Circular No. 3 of 2023: Business Continuity and Crisis Management Plans
The Palestine Monetary Authority issued Circular No. 3 of 2023 to mandate all Palestinian banks to activate business continuity and crisis management plans amid current operational conditions. The directive requires banks to implement remote work protocols, ensure continuous ATM cash replenishment and electronic service availability, and optimize staff deployment while limiting inter-governorate travel. Furthermore, it grants bank management the authority to close northern governorate branches based on real-time field assessments and mandates ongoing communication with employees and customers during emergencies.
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