September 27, 2007

Israel's Biggest Bank Cutting Gaza Ties

From Israel's Biggest Bank Cutting Gaza Ties:

"In light of the (Israeli) government's decision to declare Gaza hostile territory, Bank Hapoalim has decided to terminate its banking activity with banks and branches in Gaza," Israel's biggest bank said on Tuesday. A Palestinian banking official said Bank Hapoalim's move could force Gaza banks to shut down if other Israeli institutions follow suit and stop transferring shekel notes to them. Israel announced last Wednesday it would treat Gaza as an "enemy entity" in response to rocket attacks by Palestinian militants.