BusinessCompany NewsTreasury orders freeze on Hamas funding

Treasury orders freeze on Hamas funding

The Bank of England, acting upon orders from the Treasury, has ordered financial institutions to freeze all funds and assets belonging to and earmarked for militant Palestinian group Hamas.

Link: Palestinian spending inquiry opens

Under the directive all funds, other financial assets and economic resources of Hamas are to be frozen and banks and other financial institutions are ordered not to make any such funds available to the organisation.

Based on the UN’s Terrorism Order 2001, the Treasury may where it suspects that funds are being made available to Hamas, order that they be withheld.

Funds may only be dispensed to the group under a special licence granted by the Treasury

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