PMA issued a statement to condemn such unfounded allegations in which it described it as null and void.

PMA also reiterated it strictly implements international Anti Money Laundering (AML) standards. The World Bank latest reports said Palestine oversight systems for combating money laundering were one of the best in the Middle East.

In a response to Israeli Shekel surplus in the Palestinian market, PMA Governor Dr. Jihad Khalil Al-Wazir clarified this was a normal result due to the increase in deposits in banks operating locally which is estimated to be at least $7 billion, and as a result of the dynamic economic activities of the private sector, in addition to adopting the banking service expansion policy, where more than 20 branches have been opened in the past two years raising the total number of branches and offices to 232.

The number of customers using the banking system in Palestine went up to 1.5 million, and the number of accounts opened at banks rose to 2.6 million accounts, resulting in a continuous surge in deposits.

Dr. Al-Wazir also said Israel has been imposing restrictions and impediments against transfer of aggregate amounts at the Palestinian banks in NIS currency since 2007, and the necessary permissions have not been granted despite the persistent demands by the PMA to the Israelis since six months.

The PMA said that such news at this time come as part of a deliberate act against the PMA in light of the current financial crisis, and reports mentioned in this respect are totally baseless.