First Palestinian-Owned Bank Gets OK in Israel:...

First Palestinian-Owned Bank Gets OK in Israel: Israeli military authorities have granted permission for Palestinian business executives to set up the first Palestinian-owned commercial bank in the occupied territories, the bank’s main investor said. Kamal Hassouneh, a businessman in the West Bank town of Hebron, said he received approval six years after applying and would meet Israeli central bank officials soon to discuss operations. The new bank, which has yet to be named, would be a full-service commercial bank and offer loans for industrial development. He said it would have initial capital of $15.2 million invested by Palestinian shareholders.