Regulatory Alerts2022-01-01
Circular No. 274: Working in Emergency Situations
The Palestine Monetary Authority issued Circular No. 274/2022 mandating all Palestinian banks to activate crisis management plans and remote work capabilities to ensure the continuity of critical operations during emergencies or partial/full lockdowns. The circular requires banks to immediately communicate adjusted working hours to employees and customers, close branches in designated lockdown zones, and task their compliance departments with monitoring adherence to these directives. Furthermore, the Authority will disseminate further instructions through its Consumer Protection Department and direct communications with bank management as needed.
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