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شبكة قدس الإخبارية
Reasons for delay in ending Palestinian bank relations
The Bank of Israel has postponed the implementation of its decision to sever banking relations with Palestinian banks until the end of 2026, in order to avoid isolating the Palestinian financial system and to ensure the continued flow of payments and trade, which heavily depend on the Israeli banking system. Estimates indicate that Israeli banks process transactions worth around 51 billion shekels annually, accounting for approximately 90% of Palestinian trade, thereby exposing the Palestinian economy to significant risks if these services are withdrawn. Officials emphasize that a permanent solution requires identifying a responsible entity for providing correspondent banking services, while the Israeli shekel remains in use within the Palestinian economy. This move comes amidst increasing pressure from Palestinians on the international community to maintain the stability of the Palestinian financial system.
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