US court authorizes reopening of Palestinian bank

April 7, 2007 19:48

A US court authorized the reopening of a Palestinian bank in New York and ordered the transfer of 30 million US dollars to the Palestinian Central Bank. The decision was made after the court ruled that the bank was a separate body which was not linked to the Palestinian Authority (PA). The bank was ordered to discontinue operating in 2005 as a part of the general decision to freeze PA funds.

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