The move follows a similar one by Bank Hapoalim two weeks ago.
Israel Discount Bank (TASE: DSCT) is following in the footsteps of Bank Hapoalim (LSE: BKHD; TASE: POLI) and ending its activity with banks in the Gaza Strip. The move was expected. Discount Bank said in a statement that it followed the declaration by the government that the Gaza Strip under Hamas rule was a hostile entity.
The statement also said that the bank's board had ordered an examination of the cessation of ties with all banks operating in Palestinian Authority areas.
Published by Globes [online], Israel business news - www.globes.co.il - on October 10, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007