By Micah Halpern
Friday August 6, 2021
Banks in the Palestinian Authority have decided not to be the conduit for the agreement that allows for to Qatari money to be distributed to Gaza. The banks fear that their cooperation would expose them to legal actions on the grounds of supporting and funding terrorism.
International laws are very strict about banking and the support of terror.
According to “the Memorandum of Understanding between the State of Palestine through the Ministry of Social Development and the Qatari Foreign Ministry through the Gaza Rehabilitation Committee,” the PA has agreed to transfer Qatari funds through banks subject to the supervision of the Palestinian Monetary Fund according to a list of names compiled by the Qatari side.
The transfers will take place using ATM cards bearing the bank’s logo and will include assistance to 100,000 beneficiaries from poor families as well as 27,695 other beneficiaries, most of whom are Hamas officials.
After the funds are transferred to the Palestinian banks, the PA will issue magnetic cards that will be recharged each month with $100 and these will be handed over to the poor families in the Gaza Strip.
All this will happen only after banks that agree to participate in the plan are found. Right now, there is a serious fear of an international backlash against Palestinian banks.
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