PMA mulls end of shekel

August 2006

MEED: Middle East Economic Digest;8/18/2006, Vol. 50 Issue 33, p30

Trade Publication

Article

This article reports on the pronouncement of the Palestinian Monetary Authority (PMA) that it will be forced to end shekel trading if Israel terminates its correspondent agreements with Palestinian banks. PMA said that it is the duty of Israel to keep providing the Palestinian territories with the shekel and to settle all shekel transactions between the Palestinian Territories and Israel. Israel's Bank Hapoalim and Bank Leumi on 4 April 2006 announced they would terminate their correspondent banking agreements with their Palestinian counterparts.

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