Regulatory Alerts2022-01-01
Instructions No. (11) of 2022 Regarding the Cybersecurity Regulatory Framework
The Palestine Monetary Authority issued Instructions No. (11) of 2022 to establish a comprehensive regulatory framework for cybersecurity governance and risk management for all licensed banks in Palestine. The regulations mandate the creation of dedicated cybersecurity functions, the establishment of a Security Operations Center (SOC), and strict protocols for incident reporting and data privacy protection. Furthermore, the document enforces detailed controls across governance, defense, resilience, and third-party management to ensure the confidentiality, integrity, and availability of banking information systems.
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