UK, France and Germany say Israeli banking restrictions risk 'economic turmoil' in occupied West Bank

The United Kingdom, France and Germany warned Israel against not extending a legal framework that allows Israeli banks to work with Palestinian counterparts in the occupied West Bank.

Palestinian banks are dependent on Israeli banks for Shekel transactions. Israel has not yet extended an indemnification allowing the transfers to take place. The current one expires on Sunday. 

“This disappointing decision prolongs uncertainty and endangers the Palestinian economy,” the foreign ministers of the UK, Germany and France said.

“Cutting off these banking ties...would create significant economic turmoil in the West Bank, jeopardising the security of Israel and the wider region".