Palestine Islamic Bank Achieves PCI DSS Compliance Certification

Palestine Islamic Bank (PIB) achieved the Payment Card Industry Data Security Standards (PCI DSS) Certification. This is PIB’s latest achievement in the field of security and protection of customer information.

The audit was performed by Sovereign Secure, a company specializing in the field of information security and approved by the PCI Security Standards Council to validate an organization’s adherence to PCI DSS procedures, policies and requirements. PIB had fulfilled all requirements that qualify it to obtain the PCI DSS certification, an industry standard for card service providers around the world, who have contributed to setting these standards.

PIB General Manager Imad Al-Sadi said that obtaining this certificate highlights the Bank’s continuous efforts to implement best practices and adhere to the best international standards in the field of information security; with the aim of providing safe banking services to its customers and maintaining the confidentiality of their data. These practices are also intended to protect the Bank’s customers from theft and fraud attempts, especially in light of the prevalent trend towards electronic payment channels.

Al-Sadi added: “While we provide the latest electronic banking services to customers, we ensure that they enjoy them with the highest degree of security. The objectives of obtaining this certificate and implementing its standards include protecting the data of bank cardholders and monitoring the networks and systems related to it periodically, in addition to following secure procedures and work policies in dealing with cards, and educating customers on how to maintain the confidentiality of their data”.

Al-Sadi also stressed that the Bank will continue to keep pace with the latest international standards and requirements and provide all necessary technologies in this field, in order to continue providing its banking services with the highest degree of safety.

Obtaining this certificate requires the fulfillment of dozens of technical requirements, including building a secure network for devices that deal with cards and separating them from other networks within the organization. In addition, taking strict measures for systems related to cards and developing and updating all systems related to managing security gaps and protecting and encrypting cardholder data when sending them over the Internet, as well as regular monitoring and testing of networks.

The PCI DSS certification is granted to banks and institutions that deal with all payment cards, with the aim of ensuring the highest degree of protection for cardholder information and sensitive data, in order to avoid exposing them to the risk of theft and fraud.

PIB is the leading Islamic financial institution in Palestine with a clear strategic vision in the Sharia-compliant financing and investment arena. It has been a first mover in bringing innovative sharia-compliant financial products to its retail and corporate customers taking full advantage of advanced technologies in providing various banking services through its digital channels, which contributes to achieving a distinguished banking experience.

For more info click Here