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PA Monetary Authority’ Governor resigns ‎just in time for the Bank of Palestine to ‎freeze terrorist’s accounts in compliance ‎with Israeli law, leaving some suspicious ‎of the former governor

Al-Akhbar, Lebanese daily  |

Headline: “The banks have submitted to ‎the occupation: The suspension of the ‎prisoners’ accounts has begun”‎

‎“With the beginning of the new year, and ‎in a surprising step, ‘Palestinian [PA] ‎Monetary Authority’ Governor Azzam Al-‎Shawa, a resident of the Gaza Strip, ‎announced his resignation ‘for personal ‎reasons,’ according to an announcement ‎by the ‘Monetary Authority.’ PA Chairman ‎Mahmoud Abbas accepted it quickly and ‎declared the appointment of Fares ‎Melhem, a resident of the occupied West ‎Bank, to fill the governor’s position. Two ‎days after the resignation and the new ‎appointment, the first and largest ‎Palestinian bank, ‘the Bank of Palestine,’ ‎began to close the accounts of the ‎prisoners in the Israeli enemy’s prison and ‎their relatives.

There is a connection ‎between this step and Al-Shawa’s ‎dismissal, as the pressure that was exerted ‎on him to resign was attributed by sources ‎in the PA to his position opposing the ‎closure of the prisoners’ accounts. The ‎head of the ‘Monetary Authority’ has the ‎authority to order the banks to stop ‎cooperating with the enemy’s decision ‎‎(refers to the application of much of ‎Israel's Anti-Terror Law to the West Bank, ‎including rendering banks liable to ‎punishment for facilitating PA terror ‎salaries -Ed.) and recant from closing the ‎accounts of the prisoners and the ‎Martyrs’ [families], as these banks are ‎operating according to ‘the Palestinian ‎Banking Law’.‎

The step by ‘the Bank of Palestine’ was ‎not the first taken by the banks; other ‎banks closed accounts already last May ‎‎[2020] but did so quietly in [small] numbers ‎with time intervals between them. ‎

But what ‘the Bank of Palestine’ did at ‎the beginning of the year was different. ‎The sources revealed that behind the ‎pressures that were exerted on Al-‎Shawa stand high-ranking senior ‎officials in the PA who worked to renew ‎the relations with the enemy last month ‎‎[December 2020]…‎

The PA announced six months ago that it ‎will establish a banking institution that will ‎be subordinate to ‘the PLO,’ with which it ‎will be able to pay their salaries in order to ‎get the banks out of trouble… but ‎Palestinian sources revealed that the ‎measures to establish the bank hit ‎difficulties due to… the possibility that the ‎occupation will pressure it and the banks ‎that will have connections with it, in ‎addition to the possibility that the new ‎bank will be persecuted, have its branches ‎closed, and have its money confiscated.”‎

Application of Israel's Anti-Terror Law to the West Bank

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