The Palestine Monetary Authority (PMA) is the emerging Central Bank of Palestine. Its overall purpose is to ensure price stability and contribute to the stability and effectiveness of the Palestinian financial system. PMA promotes sustained economic and financial growth of the Palestinian economy through the following:
- Development and employment of Monetary Policy designed to achieve price stability;
- Effective and transparent regulation and supervision of Banks operating in Palestinian Territory;
- Overseeing the implementation and operation of modern, efficient payment systems.
The PMA was initially established in 1994 by presidential decree as an independent institution and later by an act of the Palestine Legislative Council PMA Law Number (2) of 1997 which outlined the full authority and autonomy of the PMA.