At the ground level of Palestine currency, the entire inventory and different between Israel and Palestine currency
Palestine currency's entire inventory Israel and Palestine currency
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At the ground level of Palestine currency, the entire inventory and different between Israel and Palestine currency
Who ever heard of having too much cash but in a classic irony the cash-strapped Palestinians dependent upon donor nations to meet the budget have too much.
cash because the Palestinian Authority the governing body likes the status of statehood it relies on treaties with.
Israel to facilitate certain aspects of international finance but Israel is not allowing the transfer of its own currency the shekel from the PA back to Israel so billions of shekels are piling.
up in Palestine currency banks wrecking havoc on banks and businesses alike if Alice Tinian authority is accusing Israel of trying to use its own currency in order.
to suffocate the Palestine economy mat Haj Hassan general manager of the National Bank the second-largest Palestinian bank says these punitive measures target the core of the financial institutions Palestine currency banks and if it continues it will destroy their economy this issue is costing the.
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banking system and the Palestine economy millions of dollars a year it's like we are given as rayul a continuous interest-free loan of around 4 to 5 billion chickens that's the minimum this.
issues is a problem that is facing over banks it creates issues in liquidity management it makes losses as I told you and it makes it more expensive to do.
business Palestinians used the Israeli shekel as the main legal tender in the territories as part of the Paris economic agreement signed by the two.
sides in 1994 as Zam shava head of the Palestine Monetary Authority says Israel's decision is political the general agreement is not to have a blockage of the plot which is political. and sometimes it comes through the.
Israeli army because they're the one who are controlling the check what Chava says if Israel wants to get paid it has to reverse its decision if banks cannot accept cash deposits from the merchants and it happened the merchants are.
trading with Israel they will not be able to fulfill the basic requirements is covering their bills against trade.
from Israel this isn't the first time that Israel has decided to hold the receipt of
shekels from Palestine currency banks this latest round began last October with the PA government imposed a ban on importing caps from Israel as part of its plan to achieve gradual economic disengagement the economic relationship the trade relationship is mostly in favor of the.
Israeli economy so making it more. difficult is not in favor of the Israeli
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economy Palestinians say they're the second largest trade market for Israel after the US where millions and millions of Israeli shekels that's the Israeli.
currency is spent in their markets such as this gas station behind me also every morning more than a hundred thousand Palestinian workers cross from the Palestinian territories into Israel to work bringing with them millions of shekels every month in salaries and for Palestinians that's a problem most.
businesses in the Palestine territories deal with cash nader abu zaid his chief finance officer for the West Bank largest gas stations franchise says cash is their preferred paying.
method we may be out with Penelope a lil kesh sales are mostly in cash due to a lack of a culture of using sales on a credit card machine we sell in cash and everyone pays in cash Abu Zeid says they have bills to pay and they must deposit.
their cash we are forced to deposit our cash sales and banks because we have obligations toward the banks and to those we buy goods from and fuel eaten.
schinsky economic professor at the Hebrew University in Jerusalem says these measures will have negative effect on Palestinian economy the impediments that they put on the flow of cash from the Palestinian area areas into Israel and and putting sort of slowing down the growth of the Palestinian economy is not.
in the interest of Israel showa says this is having the Palestine thinking seriously about finding an alternative to the Israeli shekel the media line made several attempts to reach the Palestine currency Bank of Israel and the Israel Ministry of Finance but we received no reply from Ramallah and the West Bank Hamada chasm reporting for the media line.
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