Last week the Arab League has exposed the plan to break the embargo against the Hamas government .
According to Reuters the plan has already failed . No bank in the world is willing to take the risk of losing their business in the U.S., a country where the terrorist activities of Hamas are declared.
Arab Governments Have yet to find a way to transfer money to the Palestinian Authority without running into U.S. and other reprisals Against the Banks they use, a senior Arab diplomat said on Monday. Asked if the ministers had adopted any practical mechanism to transfer funds and help banks escape possible sanctions, the diplomat said: "No ... We will have to work further on this issue." "The issue is not limited to the transfer of funds, there are all kinds of difficulties ... The government of Israel has all kinds of controls over the licensing (of banks). It is a difficult one," he told Reuters on condition of anonymity.
An Arab political source said Arab banks can at least transfer the money in Jordanian dinars through Jordanian banks to avoid sanctions. "The Jordanian dinar is widely used in the Palestinian territories and banks would not need to go through New York to transfer money in this currency."
" But this needs a bold political decision away from any affiliations with U.S. policy ," he said.
Tecnorati tags
israel , middle east
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