Major Israeli bank considers boycotting Palestinian banks

Hapoalim Bank, one of Israel’s largest banks, is considering severing ties with Palestinian banks, Maariv newspaper revealed today.

The newspaper said that the bank’s position stems from its fear of potential civil and criminal lawsuits against it inside and outside of Israel in the event that the funds transferred to the bank are used to fund hostile activities.

Maariv added that the bank’s board met with senior officials from the Israeli finance ministry a few days ago and asked for indemnity against possible claims.

During the meeting, it was decided that Hapoalim will continue to provide its banking services to Palestinian banks and will work on obtaining the indemnity required.