The PMA Supervises on the Tests of the Readiness of Alternative Work Sites for Banks

The PMA has started, in cooperation with operating banks in Palestine, direct supervision on the tests of the readiness of alternative work sites for banks, which have been processed to start since the beginning of year according to regulatory requirement of PMA, and that is through participation of the PMA representatives in the operation of inspections and testing that carried out by the banks to make sure to complete the equipment and settings of alternative sites that can work in cases of disruption to work in the headquarters of the Banks for any reason, and this comes in the framework of the process of controlling operating risk and business continuity in order to provide effective action plans and alternative sites capable to provide basic banking services for consumers in times of emergency and crisis.

In this framework the PMA has developed a plan for the completion of testing of all alternative sites for the banks until the end of the year and begin to conduct the necessary tests of the readiness of those sites, Thus, it is expected that all banks are able to ensure business continuity and to continue banking services without interruption from the beginning of next year, thanks to the availability of alternative sites that ensure the continuity of operating of the systems and functions in the banks from other sites other than their main centers .

The aim of the tests that are now underway for the alternative work sites to ensure the operating of these sites efficiently in accordance with international best practices which help the Palestinian banking system to avoid any risks related to emergency cases that may the Palestinian territories face, and the PMA experience in this field is considered as one of the pioneering experiments in the Arab region and the Middle East.