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Hamas, PA face off on financial front

Palestinian individuals and institutions are complaining about procedures implemented by the Palestinian Authority to monitor exchange office and bank transactions suspected of aiding Hamas.
Palestinian government employees withdraw money from automated teller machines (ATMs) of the Bank of Palestine in Gaza City June 4, 2006. REUTERS/Ahmed Jadallah (PALESTINIAN TERRITORIES) - RTR1E36U
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Palestinians rely on banks and money exchange offices for their financial transactions — but so do Palestinian factions abroad and their members in the territories. Therefore, the Palestinian Authority (PA) sometimes imposes strict policies on the offices, fearing money will reach Hamas-affiliated figures and institutions.

On March 28, Quds Net News Agency quoted what it said were well-informed Palestinian political sources as saying security forces have disrupted large money transfers worth millions of dollars to personal accounts and Palestinian institutions. The money, the sources said, was to fund activities against the PA. The security forces have tightened their auditing of these undisclosed accounts and have been scrutinizing banks to prevent money transfers to anti-PA parties.

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