Press Release Issued by the Palestine Monetary Authority (PMA)

His Excellency Mr. Yahya Shunnar, Governor of the PMA, stated today, Tuesday, that the PMA exercises its legally mandated powers, which include maintaining financial and monetary stability and supporting economic growth through the available and internationally recognized tools in line with best practices. He highlighted that the PMA has successfully ensured financial stability in Palestine despite successive financial crises and that its various interventions have contributed to sustaining economic activity under the most challenging circumstances.

The Governor further explained that the measures and interventions of the PMA enjoy public trust, as reflected in the continuous growth of banking sector deposits. He affirmed that, in pursuit of its mission and objectives, the PMA maintains ongoing coordination with all relevant stakeholders, foremost among them the Ministry of Finance of the Palestinian government. He stressed that the Ministry of Finance is the sole entity authorized to disclose updates on the government's financial situation, developments related to international grants and aid, domestic and external loans, and all details concerning the disbursement of salaries for public sector employees.

Regarding the new directives issued last week on the mechanism for managing outstanding debts owed to banks by public sector employees, the Governor stated that these regulations are designed to protect the interests of all parties involved. He emphasized that the directives uphold employees’ right to object to the issuance of a new loan intended to cover unpaid installments from previous periods. Employees wishing to exercise this right must submit their objection directly to their bank within ten days of receiving official notification. He further noted that the PMA has begun preparing and distributing informational materials to provide further clarity on the new regulations.