Islamic bank assets frozen in Gaza

An Islamic Bank of Palestine official says $6 million of his bank's assets had been preventively frozen in Gaza after a court ruling, media reported on Friday. The lower court decision also bars board members from leaving the Gaza Strip, Agence France Press reported. Bank of Palestine was ordered to pay $99 million and 50,000 shekels which the government considers back taxes dating back to 2005, Ma'an reported on Friday. The Islamic bank was also affected by the decision, according to AFP. A board member from the Islamic Bank of Palestine denounced the decision, saying: "All banks in Gaza pay no taxes in accordance with an exemption extended in 2007 by Palestinian President Mahmoud Abbas." Hamas spokesman Taher al-Nunu told AFP that Gaza authorities "were applying court decisions and we hope that the banks decide to do the same."