Palestine Monetary Authority (PMA) Information

The Palestine Monetary Authority (PMA) is an independent public institution responsible for the formulation and implementation of monetary and banking policies to maintain price stability and low inflation, foster financial stability and safeguard the banking sector and promote sustainable growth of the national economy. PMA works to achieve these goals through: • Development and execution of monetary policy designed to ensure low inflation and achieve price stability. • Effective and transparent regulation and supervision of banks, specialized lending institutions and money changers operating in Palestine. • Overseeing the development, implementation and operation of modern, efficient payment systems. PMA operates by an act of the Palestine Legislative Council's PMA Law Number (2) of 1997, which stipulated the proper authority and autonomy of the PMA and the Banking Law Number 9 of 2010. Vision To be a full-fledged and modern central bank for an independent and sovereign Palestinian state, capable of achieving monetary stability by keeping inflation under control, and maintaining financial stability, especially of the banking sector. PMA also works to achieve sustainable economic growth, and promote integration into the regional and global economy. Mission Ensuring monetary stability by keeping inflation under control and fostering price stability, by issuing and managing national currency, as well as contributing to maintaining financial stability, though promoting a sound and secure banking system and an efficient national payments system. PMA also assumes the role of economic and financial advisor to the Palestinian government. To attain these goals, the PMA implements effective policies and employs its financial and human resources, and technical capabilities.