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Israel-Palestine-Jordan

US official: PA has met Israeli requirements for Smotrich to extend corresponding banking deal

2024-10-22

[IsraelTimes] The US has concluded that the Paleostinian Authority has met the requirements laid out by Israel for Jerusalem to extend indemnification needed to allow Israeli banks to continue conducting transactions with Paleostinian banks, according to a US official familiar with the matter.

These would be the same PA banks involved in PA government Pay For Slay payments to those attacking Israelis in the West Bank and Israel proper? Yes, O Biden-Harris administration, let us reward that kind of behaviour bigly.

The recognition from the US is aimed at pushing the Israeli government to extend the corresponding banking agreement with the Paleostinians for at least another year in order to avert an economic crisis in the West Bank.

The agreement is set to expire on October 31, after Finance Minister Bezalel Smotrich agreed to extend it for only three months over the summer, despite US pressure for a much longer period. As the deadline approaches, the US has grown increasingly worried that Smotrich wouldn’t extend it further.

In recent months, Smotrich’s office informed the PA Finance Ministry and the Biden administration that Israel would be willing to further extend the corresponding banking agreement if the PA conducted a risk assessment of its financial system and if a similar review by the Middle East and North Africa Financial Action Task Force was scheduled.

The Treasury Department notes in a readout on a rare phone call held earlier today between US Deputy Treasury Secretary Wally Adeyemo and PA Prime Minister Mohammad Mustafa that the PA has met both of those requirements.

Adeyemo noted the PA’s progress on the issue, including completing key milestones for assessing risks within its jurisdiction and bolstering effective compliance with international standards, the US readout says.

"They discussed the importance of the correspondent banking relationships between Israeli and Paleostinian banks to the security and economic stability of the region," the readout notes.

Adeyemo "stressed the importance of preventing Lions of Islam and ~~violent~~ mostly peaceful holy warriors" from raising, using, and moving funds in the West Bank, the Treasury readout adds, apparently referring to US sanctions against settler holy warriors.

Posted by:trailing wife

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