Concerns of Palestinian economic crisis grow as Israeli banks prepare to cut ties

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Concerns of Palestinian economic crisis grow as Israeli banks prepare to cut ties

AI Summary

Two Israeli banks plan to cease cooperation with Palestinian banks citing risks of terrorism financing and money laundering, raising concerns about a looming economic crisis in Palestine.

By Steven Scheer and Ali Sawafta JERUSALEM/RAMALLAH, July 23 (Reuters) - Two Israeli banks will halt working with their Palestinian counterparts in the coming months citing risks of associating with possible terrorism financing and money laundering, Israeli officials said, fuelling concerns of a Palestinian economic crisis.

World Security Politics Markets Palestine Israeli banks economic crisis terrorism financing money laundering

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