PMA Assures Public: Palestinian Banks Financially Sound Despite Recent Developments

The Palestine Monetary Authority (PMA) is actively following developments in response to recent Israeli threats to sever correspondent banking relations with Palestinian banks. The PMA warns that such a disruption poses a serious threat to Palestinian access basic goods and services.

The PMA confirms its ongoing coordination with the political leadership and international community to safeguard correspondent banking relationships. These efforts are vital to ensuring the continuity of commercial transactions and the payment of essential imports and services, including food, electricity, water, and fuel..

The PMA also reiterates that depositors’ funds within the Palestinian banking sector are secure and that the banks maintain high levels of financial solvency in accordance with relevant international standards. The Palestinian banking system remains integrated with the global financial network through a broad range of correspondent banks and continues to provide financial services to individuals and businesses both domestically and internationally.