The Palestine Monetary Authority (PMA) is an independent public institution responsible for formulating and implementing monetary and banking policies, to ensure the soundness of the banking sector and the balanced growth of the local economy. The PMA primary goal is to maintain monetary and and financial stability and promote sustainable economic growth through:
- Effectively and transparent regulation and supervision of banks, specialized lending institutions, moneychangers, and payment service providers in Palestine.
- Supervising the implementation and operation of highly efficient and modern payment systems.
- Formulating and implementing monetary policy with the aim of achieving monetary stability.
The PMA operates under the Palestine Monetary Authority Law No. 2 issued by the Palestinian Legislative Council in 1997, which stipulated its independence, in addition to Banking Law No. 9 of 2010.