VOL. XLVII

No 10

08-March-2004

ISRAEL

REGIONAL BANKING

Israel Confiscates $8Mn In Raids On Palestinian Banks

Israeli forces on 25 February raided three banks in Ramallah and confiscated a total of NIS37mn ($8.2mn) from about 400 accounts. The banks raided were Arab Bank and Cairo-Amman Bank both Jordanian banks and Palestine International Bank. According to Amin Haddad, head of the Palestinian Monetary Authority (PMA), the forces singled out institutional, charity and individual accounts,...