Israel's Central Bank Secures Deal to Continue Palestinian Banking Ties Until 2026
The Bank of Israel has reached an agreement to maintain banking relationships between Israeli and Palestinian financial institutions until the end of 2026. Andrew Abir, the Deputy Governor of the Bank of Israel, informed Reuters that the decision postpones a planned cutoff.
Previously, major Israeli banks, including Bank Hapoalim and Discount Bank, had intended to sever ties with their Palestinian counterparts. This move was driven by concerns over potential risks associated with financing terrorism and money laundering.
Abir stated that the issue of these banking connections will require a decision from the new Israeli government regarding who will bear the responsibility for conducting business with Palestinian banks moving forward. The agreement provides a crucial three-year window for further deliberation and policy development on this sensitive matter.
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