Gaza banks say may shut down by Jan. over financial clampdown - Haaretz

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Last update - 16:08 03/10/2007

Gaza banks say may shut down by Jan. over financial clampdown

By Reuters

The Palestinian bank regulator said on Wednesday some Palestinian banks could be forced to shut their Gaza branches by year-end due to Israel's financial clampdown on the Hamas-controlled territory.

The governor of the Palestine Monetary Authority, George Abed, said Gaza's supply of shekels, the Israeli currency, could begin to run out starting next month and that individual Gazans could have trouble receiving funds from family members abroad.

In an interview with Reuters, Abed said the 42 bank branches operating in
th

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e Gaza Strip were struggling due to the territory's economic deterioration, steep declines in imports and exports, and limitations on the supply of shekels used for day-to-day transactions.

Abed said the decision of Israel's largest commercial bank, Bank Hapoalim
to sever ties with financial institutions in the Gaza Strip would exacerbate these problems unless alternatives are found quickly.

"There is a risk that several branches could close down before the end of
the year if this continues," the former International Monetary Fund official said, adding additional branches could close later if the problems continue.

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1.	NEBBICH !!	16:12	\|	Kooky Dennt	03/10/07

2.	Don`t spit in the well you drink from.	17:25	\|	Avi	03/10/07

3.	remember, they chose this	17:52	\|	Joey	03/10/07

4.	first Mazen wants talks with Hamas and now this - excellent news!	18:13	\|	redmike	03/10/07

5.	Giliad Shalit: Never Forget!	19:10	\|	David	03/10/07

6.	its about time	19:27	\|	alan	03/10/07

7.	More trouble for Hamas	20:06	\|	Polybios	03/10/07

8.	Bravo, kazam yes =money no...your choice	20:18	\|	yossi	03/10/07

9.	Andyet they still "demand this and that"	21:03	\|	Nemesis	03/10/07

10.	BANKS	00:58	\|	colin	04/10/07

11.	The simple theory	03:12	\|	Mark Lincoln	04/10/07

12.	to all the religious	03:25	\|	larry	04/10/07

13.	Bravo Bank Hapoalim	08:38	\|	NW	04/10/07

14.	Cretin Lincoln,your family run an US bank in WW2 Germany,	09:39	\|	Absolute Sweden	04/10/07

15.	Hamas becoming Zionists?	11:04	\|	dovale	04/10/07

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