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شبكة فلسطين الإخبارية
Palestinian warns on linking banks to Israel
The Governor of the Palestinian Monetary Authority, Yahya Shanaz, warned that the Palestinian economy faces serious risks due to the reliance of banking relations with Israeli banks on temporary decisions. He emphasized that maintaining these relationships is essential for trade and payments movement, although extending them until the end of 2026 does not constitute a permanent solution. He stressed the need for the European Union and the international community to intervene to ensure the continuity of banking relations, affirming the Palestinian banking sector’s commitment to the highest international standards for anti-money laundering and counter-terrorism financing. Under the Paris Economic Agreement, the Palestinian banking sector is overseen, with the Bank of Israel managing the financial transfer relationships between the two systems. There has been increasing reliance on these relationships since their periodic renewal and facilitation, aimed at protecting them from potential legal claims.
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