Palestine Monetary Authority

The Palestine Monetary Authority (PMA; Arabic: سلطة النقد الفلسطينية‎)[2] is the emerging central bank of Palestine.[3] It is located in Ramallah, and is an independent public institution responsible for the formulation and implementation of monetary and banking policies, to safeguard the banking sector and ensure the growth of the national economy in a balanced manner. PMA aims to maintain monetary and financial stability and to promote sustainable economic growth through:

  • 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.
Palestine Monetary Authority
سلطة النقد الفلسطينية (Arabic)
Logo
HeadquartersRamallah, Palestine
Established1994
Ownership100% state ownership[1]
Governor and ChairmanH.E. Azzam Shawwa
Central bank ofPalestine
CurrencyJordanian Dinar, Israeli New Shekel and United States Dollar
Websitewww.pma.ps

PMA is active in promoting financial inclusion policy and a member of the Alliance for Financial Inclusion.[4] It is responsible for setting monetary policy as well as overseeing the activity of regular banks (or "high street banks").

PMA operates by an act of the Palestine Legislative Council PMA Law Number (2) of 1997 which outlined the full authority and autonomy of the PMA 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.

PMA vision

PMA's vision is to be a full-fledged and a modern central bank for an independent and sovereign Palestinian state, capable of achieving monetary stability and keeping inflation under control, and maintaining financial stability, thereby contributing to further development in the Palestinian financial sector, promoting integration into the regional and global economy, and ultimately, fostering high rates of sustainable economic growth in the Palestinian territories.

Governors
  • Fouad Bseiso, December 1994 - November 2001
  • Amin Haddad, December 2001 - February 2005
  • George al-Abed, February 2005 - November 2007
  • Jihad al-Wazir, January 2008 - November 2015
  • Azzam Shawwa, November 2015 -

Source: [5]

See also

References
  1. https://d-nb.info/1138787981/34
  2. http://www.ifc.org/ifcext/media.nsf/content/SelectedPressRelease?OpenDocument&UNID=4E9F42888CF2E325852576B800553E5A
  3. "Archived copy". Archived from the original on 2012-03-15. Retrieved 2012-03-13.CS1 maint: archived copy as title (link)
  4. "AFI members". AFI Global. 2011-10-10. Archived from the original on 2012-02-20. Retrieved 2012-02-23.
  5. "PMA > Board of Directors". www.pma.ps.
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