New Knesset limitations on fund transfers to Gaza Strip - Israel News, Ynetnews

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New Knesset limitations on fund transfers to Gaza Strip

Published: 01.01.13, 12:29 / Israel News

The Knesset's Constitution, Law and Justice Committee confirmed a special order by Finance Minister Yuval Steinitz limiting the amount of funds allowed to be transferred to the Gaza Strip to NIS 12,000 (about $3,200).


The order was taken out as a result of the request made by Shin Bet Chief Yoram Cohen, after the current law permitted transfers from Israel to the Strip of up to NIS 100,000 (about $27,000) per person without declaring it at the border crossing. The committee was notified that millions of Shekels have been smuggled from Israel to the Hamas in the Strip and used to subsidize acts of terror, due to this loophole in the money laundering law. (Zvi Lavi)



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