PIB is awarded the Payment Card Industry Data Security Standard (PCI-DSS) for the third consecutive year

In line with its consistent efforts to enhance customer data security, the Palestine Islamic Bank (PIB) has been awarded the Payment Card Industry Data Security Standard (PCI-DSS) for the third consecutive year. The Standard, awarded by Payment Card Industry Security Standards Council, has been granted upon concluding an inspection and auditing process for all security-related policies, procedures, and requirements adopted by the Bank with respect to payment card transactions.

The process was carried out by Sovereign Secure, a company specialized in information security, through SYSTACK, its local partner in Palestine. Dr. Imad Al-Sadi, General Manager of PIB, received the Standard Certification from Mr. Rabih Barak, SYSTACK’s representative, at the Bank’s headquarters in Ramallah. The award ceremony was attended by Asem Masri, Assistant General Manager for Planning and Development, among other directors of the Bank’s departments and media representatives.

  Al-Sadi stated that PIB is proud to receive this Standard for the third consecutive year, thus reiterating the Bank’s commitment toward setting the best security standards for protecting customer data and accounts, in line with the Bank’s pioneering efforts in that regard.   He added: “Being awarded this Standard is of utmost importance in terms of customer data protection. In fact, it is an essential requirement for dealing with major card service providers in the world, such as MasterCard and Visa. Their standards also include monitoring the cards’ networks and systems through advanced technologies, adopting secure work procedures and policies for their transactions, raising customer awareness on preserving card information confidentiality, and establishing sustainable programs to raise the awareness of Bank employees towards measures to be taken to protect the Bank against any risks that might threaten customer data security.” Al-Sadi noted that, in parallel with PIB’s achievements in digital transformation, the Bank is keen on providing the most secure services to customers, as a key element to boost customer trust, and encourage them to go for the various digital services PIB provides, and prevent fraud risks. It is worth noting, in this respect, that the measures adopted by the Bank for being awarded this Standard included meeting many technical requirements, such as the development of a secure network for devices using cards, whereby such networks are separate from the other internal networks within the organization, permanent monitoring of card payment systems, regular network testing, and the development and upgrade of all systems related to security gap management and cardholder data protection, as well as meeting many other requirements related to buildings, offices, and facilities security.

PIB’s mission and vision focus on providing quality and modern Sharia-compliant banking solutions and investing in technology. PIB also has a digital transformation strategy, which led to the launch of pioneering digital services such as the 24-hour digital call center, Islami Online and Islami Mobile services. Such products and services provide a unique package of easy and safe banking services which enhance the digital experience for individual and corporate customers. The bank was recently awarded the 2022 “Best bank for providing Islamic banking services and products in Palestine” award by The Arab Bankers Association and “The Banking Executive” magazine.