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2019-01-16

Lawsuits were filed in US courts against three banks operating in Palestine

Azzam Shawwa, the governor of the Palestinian Monetary Authority (PMA), stated that the lawsuits filed in the US courts against three banks in Palestine involving alleged violations of the US Anti-Terrorism Act. These banks are: Cairo Amman Bank, Bank of Palestine, and Palestine Investment Bank.

Shawwa said that the PMA will not comment on these alleged accusations which have no real or legal base. He stated that all the operating banks in Palestine abide by the Palestinian rules and regulations, the international financial system, and the best practices. The banks also comply with the local banking regulations and the international standards for combating the financing of terrorism, and will continue to do so.

Shawwa assured that the banking system in Palestine is a strong, solid, and safe system that has a high financial solvency. The banking system will not be affected by these alleged accusations.

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