Treasury Department Will Move to Blacklist Gaza Strip Bank with Hamas Ties: Former U.S. Officials

By Matt Squire

The United States will likely sanction a newly opened Gaza Strip-based bank said to have Hamas members on its board of directors, say former government officials. The National Islamic Bank, which opened in the Hamas-controlled portion of the Palestinian territories on Tuesday, plans to hold accounts for 6,000 employees of the political organization, sanctioned as a terrorist group by the United States since 1995, according to a report from Agence France-Presse (AFP) on Tuesday. Alaa al-Rafati, the head of the bank, said that the institution is privately-held and "not associated to Hamas or to the government in Gaza," though bank...