ASSUMPTIONS
With respect to monetary matters in the West Bank and Gaza Strip under the regime of the interim peace agreements we have made the following assumptions:
- Those parts of the West Bank and the Gaza Strip transferred to the Palestinian Council ("the Palestinian territories") comprise one administrative entity which should be subject to a unified set of laws;
- The NIS and the JD will remain legal tender in the West Bank and the JD will become legal tender in the Gaza Strip (as the NIS already is) during the transitional period1;
1 Faud Beseiso, the Governor of the PMA said that the PNA plans to establish its own currency within two years. The Jerusalem Post, "PA Plans to Unveil its Own
Currency," by Jennifer Friedlin, Jan. 21, 1995. As early as January 26, 1995, moreover, the Agreement of Cooperation in the Field of Monetary and Banking Affairs between the
Hashemite Kingdom of Jordan and the PNA, Article One (2) provided "The two sides pledge to enter early and comprehensive discussions aimed at organizing the process of
replacing the Jordanian Dinar in use in the areas of the Palestinian National Authority with the Palestinian currency and the resulting mutual arrangements and commitments, if the
Palestinian National Authority decides to take such a measure."