Financial Freedom
Israel agrees to accelerate fourth-quarter shekel surplus transfer
Image credit: Maan Wire (EN)
TOP News Brief
The Palestinian Monetary Authority announced that Israel has consented to expedite the transfer of the fourth-quarter shekel surplus to Palestinian hands, according to Maan Wire. The decision represents a step toward faster delivery of the accumulated currency overage that accumulates through Palestinian-Israeli financial transactions.
The shekel surplus arises from Palestinian economic activity conducted in Israeli currency. Accelerating the transfer allows the Palestinian Authority quicker access to funds that would otherwise remain in holding accounts through the standard quarterly schedule.
