Regulatory Alerts2022-01-01
Instructions No. (5) of 2022 Concerning Business Continuity Management
The Palestine Monetary Authority issued Instructions No. 5 of 2022 to mandate comprehensive business continuity management frameworks for all licensed banks in Palestine. The regulations require banks to establish robust governance structures, conduct periodic business impact analyses, and maintain documented business continuity, disaster recovery, and crisis management plans aligned with strict recovery time and point objectives. Furthermore, the directive enforces mandatory periodic testing, independent audit reviews, and strict reporting deadlines to ensure operational resilience, cybersecurity integration, and a maximum allowable system downtime of 99.95% availability.
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