Palestine Monetary Authority  (PMA) Thursday condemned Israeli reports on alleged accusations of money laundering executed on behalf of Arabs living in Israel.
PMA issued a statement to condemn such unfounded allegations in which it described it as null and void.
PMA reiterated its strictly implemented international Anti-Money Laundering (AML) standards; “the World Bank latest reports said Palestine oversight systems for combating money laundering were one of the best in the Middle East.”
In a response to Israeli Shekel surplus in the Palestinian market, PMA Governor Jihad al-Wazir clarified this was a normal result due to the increase in deposits in banks operating locally estimated to be at least $7 billion.
He added that the Shekel surplus is also a result to the dynamic economic activities of the private sector, in addition to adopting the banking service expansion policy.
The release stated that the number of customers using the banking system in Palestine went up to 1.5 million, and the number of accounts opened at banks rose to 2.6 million accounts, resulting in a continuous surge in deposits.
Al-Wazir also said Israel has been imposing restrictions and impediments against transfer of aggregate amounts at the Palestinian banks in NIS currency since 2007, and the necessary permissions have not been granted despite the persistent demands by the PMA to the Israelis since six months.
PMA said that such news at this time comes as part of a deliberate act against the PMA in light of the current financial crisis; reports mentioned in this respect are totally baseless.