24 Hrs
Source:
شبكة راية الإعلامية
Depositors' Funds at Risk if Israel Banking Ends
The article clarifies that the cessation of banking relations between Hapoalim and Discount Banks in Israel and Palestinian banks does not directly threaten depositors' funds, as clients’ deposits in Palestinian banks are not directly linked to those relationships. These deposits are overseen by the Palestinian Monetary Authority, which ensures the stability of the banking sector. The potential impacts are mainly related to the mechanisms of fund transfer, particularly in the collection of Israeli checks and commercial transactions between Palestinian and Israeli companies, which could lead to delays in payment processes and increased transaction costs. The sector relies on a financial clearing system between the two banking systems to facilitate these processes. Nevertheless, the Palestinian banking sector maintains independent assets and capital, with the goal of ensuring the continued movement of funds and preventing disruptions to liquidity flows in the economy. The focus is on finding alternatives to mitigate the crisis’s impact on trade activities and daily transactions.
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