Palestine slams Israel hiring of private firm to manage workers’ savings

The Palestinian government, on Monday, rejected an Israeli decision to allow an Israeli private company to manage Palestinian workers’ savings, Anadolu News Agency reports.

Speaking during a cabinet meeting in the West Bank city of Ramallah, Prime Minister Mohammad Shtayyeh termed the Israeli decision as “a clear violation of Israel’s commitment to transfer Palestinian money in accordance with the Paris protocols.”

On Thursday, the Palestinian Labour Ministry said the Israeli government unilaterally allowed the Israeli Amitim company to run and invest the dues, pension savings and compensation money of Palestinian workers, who work in Israel.

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“These unilateral measures are an explicit and clear violation of Israel’s obligation to transfer these pension funds to the competent Palestinian institutions under the Paris protocols, and a flagrant violation of them,” the Ministry said in a statement.

Estimates indicate that more than 215,000 Palestinians work inside Israel, with their monthly dues exceeding 1.35 billion shekels ($383 million).

The Paris protocols were signed between the umbrella Palestine Liberation Organisation (PLO) and Israel in 1994 to organise the taxes, customs, banks, traded currencies between the two sides along with the movement of imports and exports to and from Palestinian territories.