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Al-Wazir: The Central Bank Law will be submitted for adoption soon

2011-09-22

Dr. Jihad Al-Wazir the Governor of the Palestinian Monetary Authority PMA disclosed in a press conference during the agreement signing of the PMA"s inclusion to the Reserves Advisory and Management programs of Central Banks RAMP , a related program to the World Bank that aims to the cooperation between central banks treasury departments and the treasury of the World Bank, he said that the PMA is now ready for the transition to a full Central Bank with complete powers and duties, and that the International Momentary Fund"s report that was presented to the donor countries in New York meetings has praised the achievements of the PMA and to its superiority in many technical aspects in the region, and that the PMA "is ready now " to carry out the functions of the Central Bank.

Dr. Jihad pointed out that the PMA has finished preparing the Central Bank law draft, which would give the new PMA a greater autonomy to perform its functions, in addition to the powers of issuing Palestinian currency, noting that the next Palestinian currency would be called "new Palestinian pound;" to emphasize the historic link with the Palestinian pound which its circulations was suspended after the Nakba.