What Palestine Monetary Authority does

The Palestine Monetary Authority (PMA) is the central bank of the State of Palestine, established in 1994 as an independent public institution headquartered in Ramallah with a secondary office in Gaza. PMA operates in a uniquely constrained non-sovereign context, lacking full monetary sovereignty and managing Israeli shekel liquidity, customs clearance revenue withholding, and correspondent banking risks. Its core mandate spans banking supervision, monetary policy implementation, and financial stability oversight across all licensed commercial banks, Islamic banks, microfinance institutions, and payment service providers operating in Palestine.

PMA has built a sophisticated digital financial infrastructure that is unusual for a non-sovereign economy. The technology stack includes iBuraq (an ISO 20022-based instant payment system operating 24/7/365 in multiple currencies with zero commissions), E-SADAD (a national electronic bill presentment and payment platform with API-based biller integration), ECC (an electronic check clearing system with T+1 cycle), National Key 194 (a unified card network connecting ATMs and POS terminals), and IDplus (a digital identity platform using facial biometric verification). These systems are operated and managed by the Palestinian Company for Payment Services (PCPS), a wholly-owned PMA subsidiary established in 2022.

The business model is non-commercial: PMA generates nominal revenue through licensing and supervisory fees but operates its digital platforms commission-free, distributing all services through the licensed banking and payment company network. Its economic role is increasingly that of a financial intermediation hub, channeling donor capital (EIB $395M MSME facility, $25M Shamsi Palestine solar program) and managing its own Sustainability Fund programs (Bader, Israr, Start Now) through commercial bank distribution partners. The institution also runs the Regulatory Sandbox, a National Financial Inclusion Committee, and sustainable finance and e-commerce training programs in partnership with the Ministries of Economy, Finance, Local Government, and the Palestinian Energy Authority.

Name

Palestine Monetary Authority

Legal name

Palestine Monetary Authority (سلطة النقد الفلسطينية)

Website

https://pma.ps

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

251–500 employees

Short description

The Palestine Monetary Authority is the central bank of Palestine, established in 1994, operating a national digital payments infrastructure (iBuraq, E-SADAD, IDplus, National Key 194) and channeling multilateral financing through commercial banks to banks, SMEs, municipalities, and citizens.

Ownership category

akta.pro rank

Product category

Central Banking

NAICS

Monetary Authorities-Central Bank (52111), Monetary Authorities-Central Bank (521), Public Administration (92)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Finance Services (6199), International Affairs (9721)

akta.pro primary industry

International Monetary & Financial Stability Institutions (BPADACAE)

akta.pro secondary industries

Bank Bill Pay (Consumer & Small Business) (FSAMAJAC), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC)

Keywords

• Central banking regulation
• National payment infrastructure
• Digital financial services
• Monetary policy implementation
• Banking supervision

Headquarters

HQ city

Ramallah

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Regulatory and supervisory fees: PMA, as a public regulatory authority, generates revenue through licensing and supervisory fees from the banking sector and payment service providers under its jurisdiction.
2. Sustainability Fund programs: The Sustainability Fund (صندوق استدامة) managed by PMA channels financing to SMEs and local entities, combining PMA's own capital ($20 million for Shamsi Palestine) with donor funding ($5 million from Austria, Finland, Norway), disbursed through commercial banks with favorable repayment terms up to 7 years.

Go-to-market motion2 records

Distribution channels7 records

Marketing channels8 records

Core offering

Palestine Monetary Authority is the central bank of Palestine, regulating and supervising banks and payment service providers, implementing monetary policy, and operating the national digital payment and identity infrastructure (iBuraq instant payments, E-SADAD electronic bill payment, ECC check clearing, National Key 194 card network, and IDplus digital identity). It also manages the Sustainability Fund, which channels financing to SMEs, municipalities, students, and workers through commercial banks.

Product overview

The Palestine Monetary Authority operates a comprehensive digital financial infrastructure comprising multiple interconnected platforms and programs. The core digital payment infrastructure includes: (1) iDplus - a digital identity platform providing secure facial biometric authentication for financial services; (2) iBuraq - an instant payment system enabling real-time commission-free transfers in multiple currencies 24/7; (3) E-SADAD - an electronic bill payment platform connecting service providers with banks and payment companies; (4) ECC - an electronic check clearing system; and (5) National Key 194 - a unified card payment network for ATMs and POS terminals. Supporting this infrastructure, the Palestine Payment Services Company (established 2022) operates and manages national payment systems. The Sustainability Fund provides diverse financing programs including small enterprise financing, student loans (Israr), business development (Start Now), worker financing (Bader), and solar energy projects (Shamsi Palestine). The regulatory sandbox supports fintech innovation, while sustainable finance initiatives develop climate risk management frameworks for the financial sector. All these systems interconnect through banking applications and electronic payment channels to enable comprehensive digital financial services across Palestine.

Differentiator

Problem solved

Functional benefit

Brands

• IDplus: Digital identity platform enabling secure authentication and access to financial services for all Palestinians. Forms the basis for trusted digital transactions.
• iBuraq
• E-SADAD
• National Key 194
• Sustainability Fund (صندوق استدامة)
• ECC - Electronic Check Clearing System

Products and services

• IDplus - Digital Identity Comprehensive digital identity platform enabling secure electronic authentication and access to financial services for all Palestinians, using facial biometric verification (faceprint) as the authentication factor to eliminate passwords and one-time codes for banking login and transaction approval.
• iBuraq - Instant Payment System Electronic instant payment system supervised and operated by the Palestine Monetary Authority, enabling bank customers and electronic wallet users to execute transfers and payments instantly within seconds, commission-free, across multiple currencies (JOD, USD, ILS, EUR), 24/7/365, based on ISO 20022 international messaging standard.
• E-SADAD - Electronic Bill Payment Platform National electronic bill presentment and payment platform operated by the Palestine Monetary Authority that links all service providers (government, utilities, telecoms, education) with banks and payment companies via API integration for consolidated bill management, display, and settlement.
• ECC - Electronic Check Clearing System
• National Key 194
• Sustainability Fund (صندوق استدامة)
• Shamsi Palestine Solar Energy Program (شمسي فلسطين) Solar energy financing program providing financing through commercial banks to municipalities and local government entities for solar projects to enhance energy security, reduce energy costs, and contribute to the 30% renewable energy target by 2030.
• Monshati Platform (منصة منشأتي)
• Israr Program (برنامج إصرار)
• Start Now Program (برنامج إبدأ الآن)
• Bader Program (برنامج بادر)
• Small and Micro Enterprise Financing Program
• QR Quick QR code-based instant payment service available across all banking apps and e-wallets for merchant and consumer payments, integrated into the iBuraq instant payment system.
• Regulatory Sandbox (المختبر التنظيمي)
• Sustainable Finance Framework National sustainable finance framework aligned with international standards while considering Palestinian context specifics, including climate-related financial risk management for the financial sector, supported by training on environmental and social risk management, ESMS systems, and sustainable financial product development.

Quantifiable outcome

• 5.7 million checks ($20.25 billion) processed in 2025, with return rate declining from 8.3% to 6.8% by value
• +4 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability2 records

Feature7 records

Partnerships

16 partnerships are on record, tiered major, core and minor.

• Union of Palestinian IT Companies (Beta / بيتا)majorTechnology or Integration · 23 June 2026Strategic partnership between PMA and Beta (the union of Palestinian IT companies) for developing digital financial services and fintech innovation. Beta's chairman (Mustafa Salameh) and member companies collaborate with PMA on technology projects, regulatory sandbox initiatives, and digital transformation of financial services.
• Ministry of National Economy (Palestine)coreStrategic or Co-development Partner · 11 June 2026PMA and the Ministry of Economy jointly operate the national e-commerce platform and conduct training programs for platform operators. Collaboration covers e-commerce regulation (Decision Law 21/2025), merchant registration, digital payment integration, and financial inclusion through e-commerce channels.
• Bank of Palestine (Gaza Branch Network)majorChannel Partner/ Reseller/ Distributor · 11 June 2026Bank of Palestine branches in Gaza (Deir Al-Balah, Nusairat, Nasr, Saraya) serve as physical registration points for the manual IDplus enrollment service, enabling Gaza citizens to create digital identities where automated registration is not feasible due to infrastructure constraints.
• Bank of PalestinecoreChannel Partner/ Reseller/ Distributor · 7 June 2026Primary distribution partner for EU MSME facility with a $150 million allocation. Bank of Palestine is the largest Palestinian bank and serves as the primary channel for reaching micro, small, and medium enterprises with subsidized credit. Also provides physical branches for IDplus registration in Gaza.
• National Bank (Palestine)majorChannel Partner/ Reseller/ Distributor · 7 June 2026Distribution channel for EU MSME facility with a $50 million allocation, channeling subsidized credit to small and medium enterprises through its branch network.
• Jerusalem BankmajorChannel Partner/ Reseller/ Distributor · 7 June 2026Distribution channel for EU MSME facility with a $100 million allocation, one of the largest allocations among partner banks.
• Cairo Amman BankmajorChannel Partner/ Reseller/ Distributor · 7 June 2026Distribution channel for EU MSME facility with a $25 million allocation, serving small and medium enterprises.
• Palestinian Investment BankmajorChannel Partner/ Reseller/ Distributor · 7 June 2026Distribution channel for EU MSME facility with a $70 million allocation, providing investment and working capital financing to small and medium enterprises.
• Central Bank of TurkeymajorStrategic or Co-development Partner · 5 June 2026Bilateral cooperation between PMA and CBT under the Barek Al-Baraka Islamic Economy Summit framework. Governor Shinar and CBT Governor Fatih Karahan discussed developing financial and banking cooperation, Palestinian banking sector challenges (shekel accumulation, customs revenue withholding, correspondent banking threats), and trade facilitation between Palestine and Turkey.
• Central Bank of MalaysiamajorStrategic or Co-development Partner · 5 June 2026PMA and Bank Negara Malaysia discussed Islamic finance institutional development, Sharia-compliant financial instruments, fintech innovation, digital payment systems, and financial infrastructure efficiency. Malaysian experience in linking financial stability with inclusive growth serves as a model for Palestinian Islamic finance development.
• United Nations Development Programme (UNDP)coreStrategic or Co-development Partner · 6 May 2026UNDP serves as the technical and development partner for the Shamsi Palestine solar financing initiative ($25M). UNDP provides technical oversight to ensure sustainable implementation of solar energy projects for Palestinian municipalities, working alongside the Energy and Natural Resources Authority's steering committee.
• Palestinian Energy and Natural Resources AuthoritycoreStrategic or Co-development Partner · 6 May 2026The Energy Authority chairs the Shamsi Palestine steering committee and co-signs financing agreements with PMA and UNDP. The authority oversees technical standards for solar projects and represents the government in energy policy coordination.
• Ministry of Local Government (Palestine)majorStrategic or Co-development Partner · 6 May 2026Member of the Shamsi Palestine steering committee, representing municipal interests and facilitating municipalities' access to the solar financing program.
• Ministry of Finance (Palestine)majorStrategic or Co-development Partner · 6 May 2026Member of the Shamsi Palestine steering committee, involved in financial oversight and coordination of the solar financing program.
• Palestinian Company for Payment Services (PCPS)coreTechnology or Integration · 6 May 2026Wholly-owned subsidiary of PMA (established 2022) that operates and manages national payment infrastructure including E-SADAD, Sadad Gate, ECC, iBURAQ, and National Key 194 systems. PCPS enables all Palestinian banks and payment companies to access PMA's digital payment infrastructure.
• Arab American University (AAU)minorStrategic or Co-development Partner · 1 January 2022Dr. Mona Al-Damiri, AAU Vice President for Artificial Intelligence, joined the PCPS Board of Directors, bringing academic AI expertise to the board of PMA's payment services subsidiary.

Scale indicators10 records

Recent moves12 records

Expansion highlights6 records

Broad incumbents

• Central Bank of the Republic of Türkiye (CBRT): CBRT is a documented bilateral partner of PMA (Islamic finance cooperation, correspondent banking, trade facilitation) and shares the strategic challenge of operating payment and Sharia-compliant banking infrastructure in a geopolitically exposed jurisdiction.
• Saudi Central Bank (SAMA): SAMA operates Mada (national card scheme) and SARIE (instant payment system), and supervises a major Islamic banking sector — a comparable regional incumbent combining central banking with operational ownership of national payment rails.
• Central Bank of the UAE (CBUAE): CBUAE runs the UAE's instant payment platform (IPP/Aani) and a sophisticated regulatory sandbox — a useful benchmark for where PMA's iBuraq-plus-sandbox strategy is heading as the ecosystem matures.
• National Payments Corporation of India (NPCI): NPCI operates UPI, IMPS, and RuPay — India's national digital payment rails analogous to PMA's iBuraq, E-SADAD and National Key 194 — and is a useful comparable for the strategic value of owning retail payment infrastructure at sovereign scale.
• Central Bank of Egypt (CBE): CBE is a regional incumbent that operates InstaPay and Meeza national card scheme, regulates a far larger banking sector, and shares regional Arab-banking integration initiatives with PMA — comparable mission and adjacent ecosystem.
• Bank Negara Malaysia: Bank Negara is a documented bilateral partner (Islamic finance institutional development, fintech, digital payments) and a global reference model for linking financial stability with inclusive growth — directly relevant to PMA's Islamic finance and financial inclusion roadmap.

Direct peers

• Central Bank of Bahrain: CBB oversees a small, open economy with advanced retail payment infrastructure (BenefitPay, Fawri) and an active Islamic finance regulatory regime — directly comparable to PMA in scale of supervised institutions and depth of fintech/digital banking penetration.
• Central Bank of Jordan: CBJ issues and manages the Jordanian dinar, which is one of the four currencies supported in PMA's iBuraq instant payment system, and operates under a similarly constrained regional context with shared banking relationships and remittance corridors to Palestine.
• Central Bank of Kenya: CBK regulates a financial system anchored by mobile money (M-Pesa) and operates PesaLink as a national instant payment switch — a comparable model of leapfrogging legacy rails into digital payments in a non-G7 emerging market.

Others

• Bank of Israel: Bank of Israel issues and manages the shekel, the de facto operating currency within Palestine's banking system and a key currency in iBuraq; structurally relevant to PMA's monetary environment though governed by a different sovereign context.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PMAuthority
• Facebookfacebook.com/PMAuthority
• LinkedInlinkedin.com/company/pmauthority

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Palestine Monetary Authority