Abbas signs anti-money laundering decree to stifle Hamas cash flow

October 27, 2007 12:59

Palestinian Authority President Mahmoud Abbas has signed an anti-money laundering decree that could make it harder for Hamas to bring in funds and is also meant to reassure foreign banks that they can do business with their Palestinian counterparts, officials said Saturday. Hamas officials acknowledged that the new regulations would make it harder for them to bring in funds. "This law may have some effect on the movement, but eventually it won't succeed in fulfilling its goal of drying up the financial sources of the Hamas movement," said a spokesman, Sami Abu Zuhri.

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