The factor "Information necessary for banks and other financial institutions under the jurisdiction of the independent, central monetary authority" means that the law provides specific exemptions or considerations for personal data processing carried out by financial institutions regulated by the central bank or monetary authority of a jurisdiction. This factor typically limits the scope of general data protection laws by recognizing the unique regulatory requirements and functions of the financial sector.Let's examine how this factor is applied in different jurisdictions:

Philippines - Data Privacy Act of 2012

Section 4(2)(e) states:"This Act does not apply to the following: [...] (e) Information necessary in order to carry out the functions of public authority which includes the processing of personal data for the performance by the independent, central monetary authority and law enforcement and regulatory agencies of their constitutionally and statutorily mandated functions."Section 4(2)(f) further specifies:"This Act does not apply to the following: [...] (f) Information necessary for banks and other financial institutions under the jurisdiction of the independent, central monetary authority or Bangko Sentral ng Pilipinas to comply with Republic Act No. 9510, and Republic Act No. 9160, as amended, otherwise known as the Anti-Money Laundering Act and other applicable laws;"

Key points:

• Exempts information processed by the central monetary authority (Bangko Sentral ng Pilipinas)
• Covers information necessary for banks and financial institutions to comply with specific laws
• Explicitly mentions compliance with the Credit Information System Act and Anti-Money Laundering Act
• Preserves the applicability of other financial sector-specific laws

Egypt - Data Protection Law

Article 3(6) states:"The provisions of the annexed law shall not apply to the following: [...] 6. Personal data which is held by the Central Bank of Egypt and entities subject to its control and supervision, with the exception of money transfer companies and currency exchange companies, provided that the rules set out by the Central Bank of Egypt in relation to handling personal data are observed."

Key points:

• Exempts personal data held by the Central Bank of Egypt and its supervised entities
• Excludes money transfer and currency exchange companies from this exemption
• Requires adherence to the Central Bank's rules on personal data handling
• Recognizes the specialized nature of financial data processing

United Arab Emirates - Federal Decree-Law on Personal Data Protection

Article 2(2)(f) states:"The provisions of this Decree Law shall not apply to the following: [...] f. banking and credit personal data and information that is subject to legislation regulating the protection and Processing thereof."

Key points:

• Exempts banking and credit personal data from the general data protection law
• Recognizes the existence of sector-specific legislation for financial data
• Implicitly acknowledges the role of the central bank in regulating financial data processing
• Allows for specialized treatment of financial sector data