The Israeli finance minister announced Tuesday that the exemption that allowed Israeli banks to cooperate with Palestinian financial institutions, a development that is in danger of blocking the operation of Palestinian banks. “Against the backdrop of the Israeli state’s legitimization campaign, which is being held by the Palestinian Authority internationally, Finance Minister Bezalel Smotric called for (…) to cancel the exemption of banks dealing with banks operating in the Palestinian Treasury.” In May 2024, Bezalel Smotric had already threatened to cut this link, vital to Palestinian credit institutions, in retaliation for the recognition of a Palestinian state by three European countries. The Palestinian financial and banking system depends largely on the renewal of Israeli exemption, which protects Israeli banks from possible criminal prosecutions for their transactions with Palestinian counterparts, for example for funding “terrorism”. The former US Minister of Finance […]
Source: News Beast
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