Regulatory Alerts2025-01-01
Circular No. 49/2025: Assessment of Electronic Services Levels and Digital Transformation in Banks
The Palestine Monetary Authority issued Circular No. 49/2025 requiring all banks operating in Palestine to submit a timeline for developing products and addressing low customer adoption of electronic services within two months of the circular's issuance. This mandate follows the 2024 assessment results distributed via a survey on February 6, 2025, and aims to enhance the digital transformation of the banking sector. Banks are instructed to develop electronic channels, incentivize digital usage over branch visits, and automate internal operations to meet customer expectations.
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