Arab Central Banks
- Governor and Chairman of the Board: H.E. Dr. Firas Melhem
- Deputy Governor: Mr. Mohammad Manasrah
- 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 |
|---|
| 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. |
| Serve as a financial agent of the National Authority and public entities inside and outside Palestine. |
| 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. |
| 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. |
| 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. |
| 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). |
| Compile, analyze and publish the Palestinian balance of payments. |
| 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. |
| Ensure sufficient money liquidity is available to banks operating in Palestine in accordance with the established limits by the law. |
| Hold and manage the country`s foreign reserves, including gold, and other precious metals due to the National Authority. |
| Provide the National Authority with financial and economic advice, and conduct the necessary economic and monetary analysis regularly, and publish its main findings. |
