Regulatory Alerts2023-01-01
Circular No. 218 of 2023 Regarding the Continuity of Operations of Specialized Lending Institutions
The Palestine Monetary Authority issued Circular No. 218 of 2023 to require all specialized lending institutions operating in Palestine to activate business continuity and crisis management plans. The directive mandates optimal human resource utilization, restricted inter-governorate travel, and implemented remote work protocols, while granting branch administrations the authority to close locations based on prevailing field conditions. These operational adjustments ensure sector stability and safeguard employee welfare amid current economic circumstances.
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 Circular 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, administrations of specialized lending institutions are granted the authority to make decisions regarding the closure of any branch based on prevailing field conditions.
Supervision Group Palestine Monetary Authority