A New Shipment of Accumulated Shekels from Palestinian Banks to the Israeli Side

SadaNews Economic Follow-up - A new batch of accumulated funds in shekels, held in banks operating in Palestine, was shipped to the Israeli side this morning, according to a SadaNews economic correspondent.

The shipment was carried out today under tight security measures, as Palestinian police vehicles accompanied the cash transport vehicle to the Ofer crossing west of Ramallah.

This is not the first time that amounts of piled shekels have been transferred to the Israeli side; several similar transfer operations have preceded it.

Despite this transfer, banks operating in Palestine continue to face significant challenges due to the surplus of shekels accumulated within their vaults. The quotas designated for transferring this money remain limited, which does not match the large quantities that are increasing day by day, putting continuous pressure on the Palestinian banking sector.

Economic experts consider the accumulation of Israeli currency in Palestinian banks as one of the most prominent monetary challenges facing the banking sector, as it limits liquidity management and negatively impacts daily banking operations.

Relevant authorities are making diligent efforts to expand the money transfer mechanism and find sustainable solutions to the shekel accumulation crisis.