HSBC to close its branch in Palestine

HSBC announced yesterday that it would close its branch in Palestine at the beginning of 2016, Alkhaleejonline.com reported.

In a letter to the Palestinian fiscal authority, HSBC stated that it would inform its customers that it is planning to close its branch in Palestine by 31 December, adding that their accounts would be closed on that day.

Based on the letter, the move is to help HSBC keep up with its global strategy. It noted that the Palestinian fiscal authority agreed to the closure.

The number of banks in Palestine has now reduced to 15.

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