Israel delays Palestinian bank talks until after elections

The article discusses the Israeli government's extension of the relationship between Israeli banks and their Palestinian counterparts until the end of 2026, following a decision to reject the termination of dealings with Palestinian banks, which was initially scheduled to take place in September and October 2023. This extension aims to protect the Palestinian economy, as 90% of trade passes through Israel, and the annual transaction volume between the two Israeli banks and the Palestinian Authority amounts to approximately $17 billion. Palestinians face the risk of financial collapse due to Israel withholding tax revenues and threats to suspend banking cooperation. There is a pressing need to establish a permanent entity to provide correspondent banking services between the two sides, ensuring the continuity of financial operations and preventing the collapse of the Palestinian Authority.

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