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Palestine, an OIC member since 1969, has a small but established Islamic banking sector. Islamic banks are licensed and supervised by the Palestine Monetary Authority (PMA), which regulates the banking sector and has issued instructions on Islamic banks' operations and Sharia supervision.
Islamic banks held around a tenth of the Palestinian banking market in the mid-2010s and have grown since, despite the occupation and repeated wars that weigh on the whole economy, especially in Gaza. This guide lists the institutions behind each part, with their pages on Wasabih.
The Palestine Monetary Authority (PMA), which licenses and supervises banks and has issued instructions on Islamic banks' operations and Sharia supervision.
Islamic banks held no more than about 11% of the banking market in 2015, according to Al-Monitor, and have grown since.
Two Islamic banks were licensed by the PMA in 2015, and Safa Bank, an Islamic bank, entered the market in 2016.
Palestine has no separate Halal certification law; exporters, for example of olive oil and dates, should check what their buyers' countries require.
Palestine has been a member state of the Organisation of Islamic Cooperation since 1969.
Part of the Halal economy in Palestine?
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