Israeli Finance Minister Bezalel Smotrich has ordered the cancellation of a waiver allowing Palestinian banks to operate with Israeli banks, an action that threatens to isolate Palestinian banks from the global banking system. This decision comes just after Smotrich faced sanctions from Western governments due to his provocations in the West Bank. The Palestinian Monetary Authority has warned that this move could disrupt essential transactions, significantly impacting millions of Palestinians' livelihoods, especially since they lack a separate banking system or currency.
Israeli Finance Minister Bezalel Smotrich's decision to cancel the waiver for Palestinian banks could devastate the Palestinian economy, isolating them from the global finance system.
Palestinian Monetary Authority warned that this order from Smotrich risks blocking vital commercial transactions, jeopardizing essential imports and services like food, water, and electricity.
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