A Palestinian banking official has denied Israeli reports that Palestinian banks no longer intend honoring a joint clearance agreement with the Israeli banking system, stating that disruptions in the clearance procedure that have occurred during the past weeks of unrest are a result of technical problems for which the Israeli military is responsible.
Quoted in the Ha'aretz, daily, Fuad Jaber, the secretary of the Palestinian Banks Association and the local manager of the Egyptian Land Bank, said because of Israeli army's closure of the Palestinian territories, sacks of mail have not been passing between the Palestinian areas and Israel, and this has made impossible the agreed task of clearing checks within three working days.
In response, an Israeli government representative said that, to date, preference for cross-border trade has been given to food medicine and medical equipment. But, he added, it is possible that bank transfers will be added to the list. — (Albawaba-MEBG)
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