Israel's requirements for the indemnification needed to allow Israeli banks to continue conducting transactions with Palestinian banks have been met by the Palestinian authorities, according to a source familiar with the situation.
The Palestinians must take anti-money laundering measures © Mena Today
Israel's requirements for the indemnification needed to allow Israeli banks to continue conducting transactions with Palestinian banks have been met by the Palestinian authorities, according to a source familiar with the situation.
Technical experts argue that should warrant an extension of a current indemnification - set to lapse on Oct. 31 - for at least a year to avert an economic crisis in the West Bank, the source said.
U.S. Deputy Treasury Secretary Wally Adeyemo, who last month warned Israel that allowing the banking relationships to lapse would put its own security at risk, spoke on Monday with Palestinian Authority Prime Minister Mohammad Mustafa, according to the source.
They discussed security and economic issues, as well as the authority's efforts to improve its anti-money-laundering and countering-the-financing-of-terrorism regime.
Adeyemo noted the authority's progress on the issue, including completing key milestones for assessing risks within its jurisdiction and bolstering effective compliance with international standards, the source said.
Israel's embassy in Washington did not immediately respond to a request for comment.
Reporting by Andrea Shalal
Long queues formed at gas stations and many Iranians began heading out of cities in search of safety, witnesses said, as an attack by the United States and Israel on Iran spread fear and panic throughout the country.
In a sweeping retaliatory offensive following US-Israeli strikes on Iranian territory, Tehran launched a massive missile campaign Saturday targeting American military installations and Gulf states across the region. From Bahrain to Jordan, the Middle East is now a active war zone.
Saudi Arabia issued a sharp condemnation of Iran Saturday, denouncing what it called a "brutal aggression" against its Gulf neighbors, as the region descended into unprecedented chaos following joint US-Israeli strikes on Iranian territory.
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