Region | Palestinian Territories
Hamas asks for $100m loan
Hamas has asked Palestinian monetary authorities for an emergency $100 million loan to help ease the government's growing funding crisis.
- Agencies
- Published: 23:33 May 3, 2009
Ramallah: Hamas has asked Palestinian monetary authorities for an emergency $100 million loan to help ease the government's growing funding crisis.
George el-Abed, head of the Palestine Monetary Authority, said that his organisation was looking into the request.
"We're studying this issue. We have not made a decision yet," he added.
However the authority, which is the watchdog for banks in the West Bank and Gaza, may not have enough money, with officials at the organisation estimating its reserves at $41 million, with $26 million on hand in cash.
Abed added that the refusal of local and regional banks to deal with the Hamas-led government had increased the financial crisis.
Related Links
More from Palestinian Territories
More from Region
News Editor's choice
-
6,000 cups and counting: Addicted to that tea
This cafeteria in Al Mamzar attracts thousands of customers daily, including the rich and not so rich
-
Swimming pool horror: Twins hospitalised
Twins rushed to hospital after collapsing from chlorine inhalation at swimming pool in their villa
-
Play your cards right with credit card interest
UAE Central Bank plans to cap interest rates, but are you paying thirty-five per cent now?
