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Statement of Clarification Issued by Palestine Monetary Authority (PMA)
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Statement of Clarification Issued by Palestine Monetary Authority (PMA)

The PMA condemns the irresponsible conduct and acts of aggression against the Bank of Palestine branches in Gaza Strip, which have created a crisis that endangers the soundness of the banking system, its employees and its clients. As a result, banks today have been compelled to suspend their banking services in Gaza for the day. The PMA affirms its continuous commitment to the maintenance of banking system stability and business continuity in Palestine, as well as the observance of international banking standards (AML/CFT), such that banks can operate within the international banking system. Likewise, the PMA asserts the Palestinian banking system’s keenness to serve all citizens without exception in accordance with approved procedures and principles.

As such, the PMA affirms to all citizens that the Bank of Palestine and all banks operating in the Gaza Strip are bound to operate within the above-mentioned standards, and are, therefore, unable to deal with organizations with legal issues, as this is bound to adversely affect the banking relation between banks operating in Palestine and the correspondent banks worldwide, thereby threatening the operation of banks and the transfer of funds and humanitarian aid to banks clients.  

As a result of our concern to best serve orphans’ interests, and so that funds can reach their families, all orphans may open bank accounts in any of the branches of banks operating in the Gaza Strip. 

It is one of PMA’s top priorities to protect the right of all customers of the banking system, in a manner that serves the national interest and ensures the continuous operation of the banking system in the Gaza Strip; which, in turn, helps mitigate the effect of the unjust siege imposed upon our people.

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