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Governor and Chairman of the Board: H.E. Mr. Azzam Al Shawwa
Deputy Governor: Dr. Riad Abu Shehadeh
Palestine Monetary Authority
Country: Palestine
Establishment Date: 1994
Headquarters Address: Al-Irsal Street, Ramallah,Palestine
P.O. Box: 452, Palestine
Tel.: (+970)-22415251/0
Fax: (+970)-2-2409922 / 22415310
Website: www.pma.ps
E-mail: info@pma.ps
Membership in the UAB: Observer Member
Objectives & Functions
1. Implement monetary policy aimed to maintain stability of domestic general price level (i. e. ensuring low and moderately variable inflation rate); and ensure the stability and convertibility of the Palestinian currency, when issued.
2. Serve as a financial agent of the National Authority and public entities inside and outside Palestine.
3. Contribute to maintaining the stability of the financial system, including banks, money changers, and specialized lending institutions; and preserve a safe and efficient national payments system. This entails issuing the supervisory rules, regulations, instructions, and orders necessary to ensure an effective and safe financial system.
4. Support government`s general economic policies aimed at promoting strong and sustainable economic growth, consistent with maintaining monetary and financial stability as in (1) and (2) above.
5. Regulate, supervise and license banks operating in Palestine, money changers and specialized lending institutions, all in line with internationally recognized standards (mainly Basil banks supervisory principles), and best practices.
6. Issue the national currency (notes and coins), optimally after three key necessary preconditions are met (national control of border crossings, independent monetary policy, and a robust and sustainable fiscal (budget) stance).
7. Compile, analyze and publish the Palestinian balance of payments.
8. Develop and implement monetary policy, including by promoting bank credit sufficient to support strong economic growth; and develop and implement other policies related to the exchange rate.
9. Ensure sufficient money liquidity is available to banks operating in Palestine in accordance with the established limits by the law.
10. Hold and manage the country`s foreign reserves, including gold, and other precious metals due to the National Authority.
11. Provide the National Authority with financial and economic advice, and conduct the necessary economic and monetary analysis regularly, and publish its main findings.