VOL. XLII

No. 32

9-August-1999

PALESTINE

Palestinian Monetary Authority Assets Frozen In The US

Since 10 July, some $52.5mn held at the Arab Bank andCitibank in the State of New York in the accounts of the Palestine MonetaryAuthority (PMA) representing part of the statutory reserves of the commercialbanks operating in Palestine have been frozen. The move follows a restrainingorder issued by the Southern District Court of New York on behalf of theplaintiff the US firm International Technologies...