The Palestine Monetary Authority (PMA) is an independent public institution responsible for the formulation and implementation of monetary and banking policies to maintain price stability and low inflation, foster financial stability and safeguard the banking sector and promote sustainable growth of the national economy. PMA works to achieve these goals through:
• Development and execution of monetary policy designed to ensure low inflation and achieve price stability.
• Effective and transparent regulation and supervision of banks, specialized lending institutions and money changers operating in Palestine.
• Overseeing the development, implementation and operation of modern, efficient payment systems.
PMA operates by an act of the Palestine Legislative Council's PMA Law Number (2) of 1997, which stipulated the proper authority and autonomy of the PMA and the Banking Law Number 9 of 2010.