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The Palestinian Association of Banks deplores the Gaza Court’s decision of tax payables imposed on major banks

2011-11-23

The “Palestinian Association of Banks” denounced the decision issued by one of the courts in Gaza lately, about tax payables imposed on “Bank of Palestine” and “Palestine Islamic Bank”, and the travel restrictions on their board of director. The association warned that these decisions may have a bad influence on the Palestinian investment and capital, and the economic situation in Gaza. The association emphasized the importance of the banking sector in Palestine, under the authority of “Palestine Monetary Authority”, which mainly contributed to the continuous providing of the financial services in Gaza Strip, and contributed reducing the effects of the Israeli siege on the Strip.

The association pointed out to the role of banks in Gaza, which contributed of entering over than $7 billion since the beginning of the splitting, in the form of salaries and transfers from the Arabian and foreigner donor countries, and transfers of from abroad Palestinian residents, which was the main reason why most of the economic sectors in the Strip had continued operations, headed by the telecommunications, electricity, water, fuel and trading, and reduced the difficulties of the economic situations. The association demanded to give priority to the upper national interest and citizens’ interest and to back off these decisions that present a threat to the relation with the financial and banking global and international organizations.