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شبكة قدس الإخبارية
Delay in Palestinian bank suspension
Israeli banks have postponed the implementation of the decision to cut banking relations with Palestinian banks until the end of 2026, in order to maintain continuity of banking services between the two sides amidst warnings about the repercussions this could have on the Palestinian economy, which heavily relies on the Israeli banking system for transactions and trade. This comes after plans to cease dealings with Palestinian banks due to concerns over money laundering and the financing of hostile activities. However, the new extension shifts the responsibility for a permanent solution to the incoming Israeli government, which will determine which entity will provide correspondent banking services to the Palestinians. The Palestinian economy depends significantly on these services, which amount to approximately 51 billion shekels annually, with 90% of Palestinian trade relying on them. Tensions continue due to the heavy dependence on the Israeli currency, the shekel, emphasizing that a sustainable solution is essential to ensure the stability of the Palestinian financial system.
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