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Palestine Monetary Authority

The Palestine Monetary Authority (PMA; Arabic: سلطة النقد الفلسطينية) is the emerging central bank of Palestine.[2] The PMA, located in Ramallah, was established in 1994 following the signing of the Protocol on Economic Relations (Paris Protocol) between the Palestinians and Israel.[3] It is an independent public institution responsible for the formulation and implementation of monetary and banking policies, to safeguard the banking sector and to ensure the growth of the national economy in a balanced manner.

Headquarters

1 December 1994

H.E. Dr. Feras Milhem

None

PMA supervises the 13 Palestinian and foreign banks operating in the West Bank and Gaza Strip. It is not responsible for the issue of a Palestinian currency. PMA operates under the authority of PMA Law Number 2 of 1997, an act of the Palestine Legislative Council, and the Banking Law Number 9 of 2010. The logo of the PMA pays homage to the Palestinian pound, minted and circulated under the British Mandate. The logo contains the name of the PMA in English and Arabic, written on the historic 5 mils coin.

effective and transparent regulation and supervision of banks, specialized lending institutions and money changers operating in Palestine.

overseeing the implementation and operation of modern, efficient payment systems.

development and execution of monetary policy designed to achieve .

price stability

PMA aims to maintain monetary and financial stability and to promote sustainable economic growth through:


PMA is active in promoting financial inclusion policy and is a member of the Alliance for Financial Inclusion.[4]

December 1994 – November 2001

Fouad Bseiso

December 2001 – February 2005

Amin Haddad

February 2005 – November 2007

George al-Abed

January 2008 – November 2015

Jihad al-Wazir

November 2015 – January 2021

Azzam Shawwa

January 2021 –[6]

Feras Milhem

The governors of the PMA have been:[5]

Economy of the Palestinian territories

List of central banks

Official website

Official PMA YouTube Page