Israeli banks have informed their Palestinian counterparts that they intend to end critical banking services within weeks, Israeli and Palestinian officials said, raising fears of an economic crisis in the West Bank.
These banking links are essential for financing imports from Israel to the occupied Palestinian territory, including electricity, water, fuel and food, as well as for transferring wages earned by Palestinians working in Israel.
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Five Palestinian banks that rely on Israel’s Bank Hapoalim for correspondent banking services will lose access on August 13, Palestinian banking officials told AFP.
Banks working through Discount Bank face a September 1 cutoff.
