Ties are cut with Gaza Strip banks

Israel’s largest bank said it was severing its last remaining ties with Palestinian banks in Gaza, after the Israeli government’s declaration of the coastal strip as an “enemy entity.”

Bank Hapoalim said in a statement that it would cease activities with banks and branches in the Gaza Strip.

The statement did not indicate the extent of the bank’s operations in Gaza or say when the decision would take effect, and a spokeswoman declined to elaborate.

A Gaza expert said the move could cause monetary chaos there. Palestinians have no currency of their own and do most of their local business in Israeli shekels.