The Monetary Authority Forms a National Team for Cyber Monitoring and Response in the Banking Sector

SadaNews - The Monetary Authority has announced the formation of a consulting team for cyber monitoring and response in the banking sector, as part of its efforts to enhance cybersecurity and improve the resilience and protection of financial and banking institutions in Palestine.

The formation of this team is part of a comprehensive national program to develop a central system for monitoring and responding to cybersecurity incidents (CSIRT), to enhance cybersecurity readiness in the banking sector to face electronic risks, protect the digital infrastructure and clients' data, and strengthen business continuity in light of increasing digital challenges.

The team includes representatives from the relevant departments of the Monetary Authority, alongside representatives from several banks and payment service companies. The team will lead the process of designing and operating the central cybersecurity system.

The team is responsible for developing the technical and operational visions for the system, contributing to the development of policies and regulatory frameworks for data governance and information exchange, in addition to monitoring performance and enhancing coordination among the relevant parties and raising necessary recommendations and reports.

The Monetary Authority confirmed that this initiative aligns with its national strategy to enhance the infrastructure for digital transformation in the State of Palestine, protect the confidentiality and integrity of clients' data, and ensure the continuity of financial services under various operational scenarios.