The Bank of Palestine has recently discontinued its work with the accounts of terrorists who receive benefits from the Palestinian Authority.
According to official statements from the terrorist organizations, the bank has informed terrorists and their family members that they must withdraw all funds and close their accounts.
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The decision stems from the warning the Bank of Palestine received from the Palestinian Media Watch, a non-profit Israeli institute that researches the Palestinian society.
The institute warned the bank about a year ago that according to the 2016 Counter-Terrorism Law, financial entities involved in the pay for slay system will be viewed as supporting terrorists – and will therefore be exposed to enormous legal and economic risks.
Israel's Military Advocate General had been delaying the application of the Counter-Terrorism Law in Judea and Samaria for years. Only after the murder of 17-year-old Rina Shnerb and following a demand by Palestinian Media Watch attorney Maurice Hirsch, who also represents the family, was Israel forced to clarify that the law does indeed apply to Judea and Samaria.
The Palestinian Authority prepared for the shift in advance. It paid a large part of terrorists' salaries several months in advance and is looking for new ways to continue the payments despite international pressure to stop doing so.
