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Al-Raqeeb \u2013<\/strong> Chairman of the Palestinian Chambers of Commerce Federation, Abdo Idris, warned against rushing ahead with the draft law aimed at reducing the use of cash before addressing the structural and economic challenges facing the Palestinian market. He stressed that \u201cthe transition toward a digital economy is a necessary step, but it requires real readiness, not merely legislation.\u201d<\/p>\n Idris made his remarks during an interview on the program \u201cIn Al-Raqeeb\u2019s Circle\u201d<\/em>, which discussed the ongoing debate surrounding the draft law recently presented to government officials, economists, the Chambers of Commerce Federation, and civil society institutions.<\/p>\n Idris clarified that the Federation is not opposed to modernization and supports steps aligned with global development. However, he emphasized that Palestine\u2019s digital infrastructure is still not fully prepared, particularly for small and medium-sized traders.<\/p>\n He said:<\/p>\n \u201cWe are part of the world, and we are not against any form of development, but Palestinian interests must come first. How can we move toward digitalization when we only have 3G services, while the rest of the world operates on 4G and 5G?\u201d<\/p>\n<\/blockquote>\n He pointed out that a large portion of electronic payment operations relies on stable internet and communication services\u2014services that citizens and traders struggle to access due to Israeli restrictions and weak networks.<\/p>\n Idris also addressed a growing crisis within the banking sector, namely the accumulation of Israeli currency inside Palestinian banks due to Israeli banks\u2019 refusal to accept it, leading to difficulties in cash deposits and payments.<\/p>\n He added:<\/p>\n \u201cFrom morning until evening, we receive complaints that banks are not accepting cash deposits. So how can we obligate traders to rely on electronic payments before resolving this issue?\u201d<\/p>\n<\/blockquote>\n He affirmed that Israel, under international law, is obligated to accept its currency circulating within the Palestinian banking system, and that obstructing this process constitutes an economic punishment aimed at weakening the Palestinian economy.<\/p>\n Idris explained that discussions about new financial laws must first be preceded by solutions to several major crises, most notably:<\/p>\n Clearance revenues withheld by the Israeli side.<\/p>\n<\/li>\n Private sector dues that remain unpaid due to the government\u2019s financial distress.<\/p>\n<\/li>\n Closures and checkpoints disrupting trade and economic activity.<\/p>\n<\/li>\n Weak technological infrastructure and communication services.<\/p>\n<\/li>\n<\/ul>\n He said:<\/p>\n \u201cIt is not permissible to compare Palestine with stable countries that control their borders and geography. We live under exceptional circumstances unlike any other economic environment.\u201d<\/p>\n<\/blockquote>\n According to Idris, the proposed law carries two parallel objectives: financial modernization on one hand, and the imposition of monitoring and tax tools on the other. The concern, however, lies in its impact on small traders and citizens, who may end up bearing the cost of the transition to electronic payments.<\/p>\n He explained:<\/p>\n \u201cTraders see the law as introducing new fees, accounting changes, and additional restrictions. Therefore, we must clearly determine: who will pay the price of this transition? The citizen? The trader? Or the government?\u201d<\/p>\n<\/blockquote>\n He emphasized that the Federation supports financial inclusion but rejects a rushed implementation that could create a black market or further complicate an already fragile financial reality.<\/p>\n Idris concluded by stating that the private sector and the Chambers of Commerce Federation are open to dialogue with the Palestinian Monetary Authority and the government to produce a \u201ccivilized and balanced\u201d law. However, he insisted that any legislation must:<\/p>\n Prioritize national interests first.<\/p>\n<\/li>\n Be implemented gradually after preparing the necessary infrastructure.<\/p>\n<\/li>\n Ensure tax fairness without overburdening traders and citizens.<\/p>\n<\/li>\n Align with the political and economic reality imposed by the occupation.<\/p>\n<\/li>\n<\/ul>\n He concluded:<\/p>\n \u201cWe want a law that protects citizens and develops the economy\u2014not one that adds further burdens in an already pressured environment.\u201d<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":" Al-Raqeeb \u2013 Chairman of the Palestinian Chambers of Commerce Federation, Abdo Idris, warned against rushing ahead with the draft law aimed at reducing the use of cash before addressing the structural and economic challenges facing the Palestinian market. He stressed that \u201cthe transition toward a digital economy is a necessary step, but it requires real<\/p>\n","protected":false},"author":9,"featured_media":4810,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,33,97],"tags":[],"class_list":["post-4809","post","type-post","status-publish","format-standard","has-post-thumbnail","category-interviews","category-latest-news","category-main"],"_links":{"self":[{"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/posts\/4809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/comments?post=4809"}],"version-history":[{"count":1,"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/posts\/4809\/revisions"}],"predecessor-version":[{"id":4811,"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/posts\/4809\/revisions\/4811"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/media\/4810"}],"wp:attachment":[{"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/media?parent=4809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/categories?post=4809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/raqeeb.ps\/en\/wp-json\/wp\/v2\/tags?post=4809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}An Incomplete Environment for Digital Transformation<\/h3>\n
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Accumulated Cash and Banks Unable to Absorb It<\/h3>\n
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Economic Conditions Obstruct Any Legislative Leap<\/h3>\n
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Between Modernization and Tax Oversight<\/h3>\n
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Call for Comprehensive Dialogue and a Law That Reflects Palestinian Reality<\/h3>\n
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