[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 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] PMA aims to maintain monetary and financial stability and to promote sustainable economic growth through: PMA is active in promoting financial inclusion policy and is a member of the Alliance for Financial Inclusion.