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شبكة راية الإعلامية
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شبكة راية الإعلامية

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Central Bank urges global action on correspondent banking

Central Bank urges global action on correspondent banking

Palestinian Monetary Authority Governor Yahya Shanar warned of the serious consequences of severing correspondent banking ties, emphasizing that continued Israeli measures threaten the Palestinian economy and could lead to the collapse of essential services and food security. He called on the international community to take urgent action to prevent an economic meltdown, noting that 90% of Palestinian exports and 100% of imports depend on Israel, with transactions totaling 51 billion shekels expected in 2025. He explained that any disruption in banking relations could lead to a decline in economic activity, increased inflation and unemployment, and heighten the risks associated with the liberalization of financial transactions, all while Palestine remains committed to anti-money laundering and counter-terrorism financing standards.

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