personal belongings including house appliances and passenger cars as long as they are for personal use.

18. The Palestinian Authority will develop its system for temporary entry of needed machines and vehicles used for tile Palestinian Authority and the Palestinian economic development plan.
    
    

Concerning other machines and equipment, not included in Lists Al, A2 and B, the temporary entry will be part of the import policy as agreed in para 10 above, until the joint sub - committee mentioned in para 16 decides upon a new system proposed by the Palestinian Authority. The temporary entry will be coordinated through the joint sub committee.

19. Donations in kind to the Palestinian Authority will be exempted from customs and other import taxes if destined and used for defined development projects or non commercial humanitarian purposes. The Palestinian Authority will be responsible exclusively for planning and management of the donors' assistance to the Palestinian people. The Joint Economic Committee will discuss issues pertaining to the relations between the provisions in this Article and the implementation of the principles in the above paragraph.
    
    

Article IV  

MONETARY AND FINANCIAL ISSUES  

1. The Palestinian Authority will establish a Monetary Authority ( PMA ) in the Areas. The PMA will have the powers and responsibilities for the regulation and implementation of the monetary policies within the functions described in this Article.
   
   
2. The PMA will act as the Palestinian Authority's official economic and financial advisor.
   
   
3. The PMA will act as the Palestinian Authority's and the public sector entities' sole financial agent, locally and internationally.
   
   
4. The foreign currency reserves ( including gold ) of the Palestinian Authority and all Palestinian public sector entities will be deposited solely with the PMA and managed by it.
   
   
5. The PMA will act as the lender of last resort for the banking system in the Areas.
   
   
6. The PMA will authorize foreign exchange dealers in the Areas and will exercise control ( regulation and supervision ) over foreign exchange transactions within the Areas and with the rest of the world.
   
   
1. The PMA will have a banking supervision department that will be responsible for the proper functioning, stability, solvency and liquidity of the banks operating in the Areas.
   
   
2. The banking supervision department will predicate its supervision on the international principles and standards reflected in international conventions and especially on the principles of the "Basle Committee".
   
   
3. The supervision department will be charged with the general supervision of

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