Palestine Monetary Authority

Palestine Monetary Authority
سلطة النقد الفلسطينية (Arabic)

Logo
Headquarters	Ramallah, Palestine
Established	1 December 1994
Ownership	100% state ownership[1]
Governor and Chairman	H.E. Dr. Feras Milhem
Central bank of	Palestine
Currency	None
Website	www.pma.ps

The Palestine Monetary Authority (PMA; Arabic: سلطة النقد الفلسطينية) is the emerging central bank of Palestine.^[2] The PMA, located in Ramallah, was established in 1994 following the signing of the Protocol on Economic Relations (Paris Protocol) between the Palestinians and Israel.^[3] It is an independent public institution responsible for the formulation and implementation of monetary and banking policies, to safeguard the banking sector and to ensure the growth of the national economy in a balanced manner.^{[citation needed]}

PMA supervises the 13 Palestinian and foreign banks operating in the West Bank and Gaza Strip. It is not responsible for the issue of a Palestinian currency.^{[citation needed]} PMA operates under the authority of PMA Law Number 2 of 1997, an act of the Palestine Legislative Council, and the Banking Law Number 9 of 2010.^{[citation needed]} The logo of the PMA pays homage to the Palestinian pound, minted and circulated under the British Mandate. The logo contains the name of the PMA in English and Arabic, written on the historic 5 mils coin.^{[citation needed]}