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Israel-Palestine-Jordan
Banks balk at dealing with new Palestinian govÂ’t
2007-04-07
GAZA - Local, regional and international banks are refusing to transfer funds to the new Palestinian unity government, Prime Minister Ismail Haniyeh of Hamas said on Friday.

Haniyeh accused the United States of putting pressure on the banks to block the flow of funds to the coalition government formed last month by Hamas and President Mahmoud Abbas’s Fatah faction. “The banks refused to deal with us and they are still refusing (to deal with the government) because of American gang-like actions,” Haniyeh said during Friday prayers. “We want the American administration to remove its hand off the banks... If that happens, it would encourage Arab countries and encourage European countries” to restore direct aid to the Palestinian Authority, Haniyeh said.
Still got 'em where it really hurts, do we?
Hamas came to power in March 2006, leading to a Western aid embargo. Banking sanctions have prevented the Palestinian Authority from bringing in enough money from Iran and other donors to pay its workforce in full. Israel is also withholding Palestinian tax revenues.

To get around the banking sanctions, members of the Hamas-led government have resorted to smuggling suitcases of cash into Gaza through Egypt.
You'd think a zealous Egyptian customs agent could make a nice living for himself. Perhaps he already is.
Banks in the region are especially vulnerable to US and Israeli pressure because they rely on “correspondent” financial institutions in Israel and the United States for day-to-day transactions in shekels and dollars. Under US law, any foreign bank that refuses to cooperate with the United States in cutting off funding to Hamas could have its US assets frozen and lose its access to US financial markets. US banks could, in turn, be required to terminate any correspondent accounts.
Posted by:Steve White

#3  "American gang-like actions," Haniyeh said during Friday prayers.

Always nice to get an expert opinion.
Posted by: Zenster   2007-04-07 20:05  

#2  Haniyeah is just pissed because he's being treated like a number in a big bank with big fees. Welcome to our world, Haniyeah you POS.
Posted by: covertfloridian   2007-04-07 09:47  

#1  Paleo propensity to resort to deadly force at slightest provocation, probably, also have something to do with it. To wit, if you're an Arab banker: the possibility what some Hamas (Fatah) thug will take offence at you handling money to a "Palestinian Government" member identified with the other faction; is gotta be a consideration.
Posted by: gromgoru   2007-04-07 05:22  

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