(Ynet News) Sever Plocker - Bank Hapoalim has cut off all connections with the Palestinian financial and banking system, in wake of the swearing-in of a Hamas-led government that has transformed the PA into a terror entity. The bank will cease to honor PA banks' checks and suspended the transfer of funds to the Palestinian banking system, Yediot Ahronot reported Tuesday. Bank Hapoalim has been the main, and recently almost the only, banking institution through which Israel and the PA conducted routine financial transactions. The move in effect brings to an end any remaining banking ties between Israel and the PA. International legislation prohibits banks from doing business with organizations and institutions suspected of sponsoring terror activity.
2006-04-04 00:00:00Full ArticleBACK Visit the Daily Alert Archive