Palestine Monetary Authority

PALESTINE MONETARY AUTHORITY

Instructions No. (22) of 2021

Concerning Security, Safety, and Protection

Based on the provisions of Decision-Law No. (9) of 2010 concerning Banks, particularly Article (72) thereof, and in accordance with the authorities vested in us, and in pursuit of the public interest, we have issued the following Instructions:

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Article (1)

Objective and Scope of Application

1. These Instructions aim to provide the minimum requirements for maintaining security and safety, protecting the Bank's funds and assets, and mitigating risks.
2. The provisions of these Instructions apply to all Banks licensed by the Palestine Monetary Authority to conduct banking business.

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Article (2)

Risk Classification

The Bank shall classify its headquarters, branches, and offices according to the level of risk they may be exposed to, and make the necessary arrangements to provide security, safety, and protection requirements based on their risk classification.

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Article (3)

Security and Protection Staff

The Bank shall adhere to the following:

1. Appoint security and protection staff for the Bank's headquarters, branches, and offices according to the risk classification, at a minimum during official working hours, and not assign them to any other duties.
2. Prepare and approve work plans and procedures for security and protection tasks, including handling emergency situations.
3. Provide training programs and workshops for security and protection staff to enhance their capabilities.
4. Rotate security and protection staff among headquarters, branches, and offices within the governorate periodically under an approved plan.

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Article (4)

Security Protection Devices and Equipment

The Bank shall provide the necessary infrastructure to ensure the security and safety of its assets, including the following:

1. Early warning devices (detectors/sensors) against theft and fire with appropriate specifications at the Bank's headquarters, branches, and offices, and conduct periodic tests in coordination with competent authorities to ensure their continuous effectiveness and efficiency.
2. Suitable communication devices for security and protection staff at the Bank's headquarters, branches, and offices.
3. Prohibit the entry of weapons into the Bank's headquarters, branches, and offices.
4. Install surveillance cameras with appropriate clarity outside the Bank's headquarters, branches, and offices, as well as indoor cameras inside them, providing adequate coverage in operational areas and hazardous zones.
5. Suitable anti-theft alarm devices at the offices of security staff and safe deposit box custodians.
6. Fire and theft-proof iron safes for storing cash, checks, documents, important contracts, seals, and keys.
7. Fire extinguishing devices and equipment (automatic and manual) in accordance with licensing requirements and Civil Defense fire prevention conditions inside the Bank's headquarters, branches, and offices, proportionate to the room contents, and conduct periodic tests on them.
8. An automatic access control system (Access Door) for specific access rights to areas with critical operations, aligned with the Bank's specific risk classification.
9. Provide a mechanism to monitor and control entry and presence at the Bank's headquarters, branches, and offices outside official working hours.

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Article (5)

Contracting with Security and Protection Companies

The Bank may contract with security and protection companies to secure the transport of valuable funds and documents, and to protect the Bank's headquarters, branches, offices, and properties, instead of appointing employees to do so, provided that the following conditions are met:

1. The security and protection company must be registered with the competent authorities and licensed by the Palestine Monetary Authority in accordance with qualification conditions.
2. Comply with the prevailing Instructions regarding outsourcing.

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Article (6)

Comprehensive Insurance

The Bank shall provide a comprehensive insurance policy for its assets, including insurance against breach of trust, theft, fire, and money transport, and comply with all requirements and conditions stipulated therein.

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Article (7)

Keys and Seals

1. The Bank shall maintain two separate registers for key holders, as follows:
   a. A dedicated register for holders of keys to the strongroom, safe deposit vaults, and all main entrances of the Bank. b. A dedicated register for holders of other keys.
2. The Bank shall deposit the keys to the strongroom, safe deposit vaults, and all main entrances with employees at a minimum.
3. The Bank shall deposit other keys in a special safe under the supervision of the Branch or Office Manager, or their deputy, upon the conclusion of official working hours.
4. The Bank shall record receipt and handover operations in the registers during leaves or transfers between employees.
5. The Bank shall maintain a dedicated register for seal holders, with the main seals entrusted to the Branch or Office Manager, or their deputy, and record receipt and handover operations in the register during leaves or transfers between employees.

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Article (8)

Final Provisions

The Bank shall adhere to the following:

1. Retain camera recordings for a period of no less than one year for reference when needed, and provide a backup copy of the recordings to ensure they are not lost in case of any malfunction of the recording device.
2. Connect alarm devices at the Bank's headquarters, branches, offices, and ATM locations to the competent authorities.
3. Store all documents and records related to employment rights, the Bank, and daily work safes inside fireproof and secure safes under the supervision of the Branch Manager or their deputy, and comply with prevailing laws regarding the retention and statute of limitations for documents and records.
4. Take necessary security measures to ensure the preservation of devices, systems, and documents related to banking correspondence, ensuring their protection and preventing unauthorized access.
5. Coordinate with security authorities to enhance necessary security and preventive measures to protect the Bank's headquarters, branches, offices, and assets in the event of any incidents.
6. Provide clear mechanisms and specific reporting channels for employees to report in case of suspicion of any incident inside or outside all Bank headquarters, branches, and offices.

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Article (9)

Repeal of Conflicting Provisions

1. Instructions No. (05/2009) concerning security and safety requirements are hereby repealed.
2. Any provision conflicting with the provisions of these Instructions is hereby repealed.

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Article (10)

Rectification of Status

The Bank shall provide the Palestine Monetary Authority, within 30 days from the date of issuance of these Instructions, with an assessment of its compliance with their requirements and submit a timeline for rectifying its legal status.

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Article (11)

Implementation and Enforcement

All competent authorities shall, each within their respective jurisdiction, implement the provisions of these Instructions, and they shall take effect from the date of their issuance.

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Issued in Ramallah, on: 31/10/2021

Dr. Fares Malham
Governor

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Note:
Ramallah and Al-Bireh - Palestine P.O. Box 452 info@pma.ps | Fax: +970 2 2415310 | Fax | Tel: +970 2 2415251 | Phone Gaza - Palestine P.O. Box 4026 Fax: +970 8 2844487 | Fax | Tel: +970 8 2825713 | Phone www.pma.ps