U.S. and Israeli lawmakers have been working to pass a law that would allow Palestinians to build a $200 million fund to help pay for the construction of a $1.7 billion independent Palestinian bank.
The bill has gained momentum since Israeli Prime Minister Benjamin Netanyahu spoke out about the plan on May 10.
The plan is part of a larger Israeli effort to re-assert Palestinian independence from Israel.
Israeli lawmakers are currently working on another bill that would also allow Palestinian businesses to be granted Israeli-style privileges and to transfer ownership to the state.
Israel has long denied Palestinian ownership of its properties.
The Palestinian Authority’s official position is that the properties belong to Palestinians and that the Palestinian Authority is in control.
Read more about Israel: http://www.wsj.com/articles/israel-israeli-parliament-to-pass-new-financial-reform-bill-to+provide+financial+reform+to+the+Palestinians-1-836241611