Regulatory Alerts2026-01-01
Law No. (2) of 1997 Concerning the Palestine Monetary Authority
Issued by the President of the Palestinian National Authority in 1997, this law establishes the Palestine Monetary Authority as an independent legal entity empowered to regulate banking activities, issue national currency, and manage monetary policy. It mandates the Authority to maintain financial stability, supervise licensed banks and specialized credit institutions, and serve as the government's primary financial agent while operating with fiscal independence. The legislation establishes a nine-member Board of Directors, defines capital and profit distribution mechanisms, and grants comprehensive licensing, supervisory, and penalty powers to ensure a sound banking sector.
Share