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| By: Associated Press |
| Published: May 16, 2006 |
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Israel's Discount Bank on Tuesday said it is severing ties with banks operating in Palestinian areas, in a new blow to the beleaguered Hamas-led government.
Officials at Bank Discount said they made the decision out of concern that it could run afoul of anti-terrorism laws. They said all ties would be cut by November.
Bank Discount was authorized to handle dealings with the Palestinian Authority under interim peace accords reached in the mid-1990s. Bank Hapoalim, the other Israeli bank authorized to deal with the Palestinians, already has said it is cutting ties as well.
Both banks facilitate the Palestinians' significant financial dealings with Israel, such as paying for electricity and water and enabling the Palestinian government to pay salaries to its employees. The Israeli shekel is the primary currency in Judea, Samaria and the Gaza Strip.
AP contributed to this report. |
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