Palestinian Authority restricts money transfer to Gaza

RAMALLAH, (PIC)– The Palestinian monetary authority in Ramallah has imposed restrictions recently on transferring any amount of money to individuals in the Gaza Strip, according to banking sources. The sources said that the monetary authority issued a circular ordering banks not to accept the transfer of any money to individuals and their bank accounts in Gaza except through persons having bank accounts in the West Bank. The circular also demanded the banks to put the money first in the account of the sender before transferring it to the recipient’s account in Gaza.   The sources said this measure is contrary to the procedure followed routinely in internal financial transactions between bank branches, describing it as part of security restrictions on all sums of money sent to Gaza.

(Source / 04.07.2016)

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