Regulatory Alerts2019-01-21
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Circular on Amendments to Instructions on IT Governance and Management (No. 65/2016)
The Central Bank amends the IT Governance and Management Instructions (No. 65/2016) to align with the COBIT 2019 framework, replacing specific Annex matrices and definitions with COBIT 2019 goals and objectives. Licensed banks must ensure that activities related to high-priority focus areas, such as cyber security and risk management, reach a maturity level of at least 3 by the end of 2019. The amendments also permit foreign bank branches to merge IT Governance Committee tasks with existing committees and allow the IT Governance Committee to adopt auditor reports provided the Board of Directors is informed.
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