Regulatory Alerts2023-01-01
Instructions No. 15 of 2023 on Security, Safety and Protection
The Palestine Monetary Authority issued Instructions No. 15 of 2023 to mandate enhanced security, safety, and asset protection measures for all licensed banking institutions. The regulations require banks to fortify high-risk branch entrances and exits with electronically controlled barriers, implement multifactor authentication or security officer oversight for customer access, and install bulletproof glass doors and windows. Banks must submit a compliance report detailing their implemented measures to the Authority within one month of the Instructions' issuance on September 4, 2023.
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