The last Israeli bank operating in the West Bank was closed down by the Palestinian Authority for not abiding by Palestinian banking regulations, The Gulf Daily News reported Monday.
Amin Haddad, a senior Palestinian official said in a statement that "the Palestinian Monetary Fund... closed down the Mercantile Discount Bank in Bethlehem after the time given to settle its monetary situation has ended without any action."
The fund the central Palestinian monetary authority in the West Bank and Gaza gave the Mercantile Discount Bank until Sunday to resolve a dispute concerning its clearing practices and dues owed to the fund.
Several Israeli banks operated in the West Bank and Gaza after Israel occupied those territories in the 1967 Middle East War. They began closing down after the start in 1987 of a six-year-long Palestinian uprising -- Albawaba.com
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