Israeli banks block shekel cash transfers from Palestinian banks, officials report

Israeli banks are refusing shekel cash transfers from Palestinian banks in the occupied West Bank, according to Palestinian officials.

"In the next few days, banks in Palestine will be unable to finance trade operations between Palestinian and Israeli merchants, as their ability to make financial transfers is directly connected to shipping the accumulated shekel banknotes to their Israeli counterparts," the Palestinian Monetary Authority (PMA) told Reuters.

The PMA warned that this will disrupt Palestinians’ access to essential goods and services, as they will be unable to make payments through official banking systems.