At a Public Petitions Committee, in the presence of the head of “Bank of Israel”, MK Rabbi Israel Eichler spoke of the “Gemachim decree” where banks are being forced under pressure from foreign governments to close “Gemachim” accounts. “In the name of “fighting terror” and Anti-Money Laundering, the IRS and the American government have become supervisors of all bank accounts around the world including in Israel. Everyone has to go through their inspection, so the “Gemachim” received a letter that they will not be able to keep their bank accounts anymore.
I expect that the Bank of Israel find a way to abide the agreements with the US and on the other hand, not to spill the charitable funds of the “Gemachim” into the bath of the war on terror. The banks must not become a burden and a restriction on associations and charity organizations who want to help people and do not engage in terrorism. There are limits to the madness of the banking system. We must not allow the charity organizations and “Gemachim” to be paralyzed by the American pressure” – said MK Rabbi Eichler.
(YWN Israel Desk – Jerusalem)
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4 Responses
And what are the genachim up to?
America should keep its nose OUT of Israels banking system.The Americans that live in Israel are taxed enough and don’t need to be worried if the IRS will stick their hands into an Americans Israeli bank account.
The U.S. government has become aware that these gemachim are being used to launder and/or hide money.
Also the U.S., under Obama, has made it very difficult for Americans in Israel to cash or deposit checks received from the US into Israeli banks.
The reality is that many of the Israeli gmachs ARE fronts for much money laundering.
Also there is much dishonesty in these gmachim as to who get money.