The Palestine Monetary Authority (PMA), which essentially functions as the central bank of the Palestinian Authority, has hired DLA Piper, one of the largest law-firms in the world, to lobby the American government and American correspondent banks.
As the Palestinian Authority increasingly indicates they will seek to establish an independent state in the fall in violation of international law, the hiring of this firm at the rate of $50,000 per month sends the message that they are focused. The PMA is “responsible for the formulation and implementation of monetary and banking, policies, to safeguard the banking sector and ensure the growth of the national economy in a balanced manner.”
In 2010, PBS reported that “As peace talks flounder, Palestine’s central banker helps build a state” – and the man described as “Palestine's central banker, Jihad Al-Wazir helping build a de facto Palestinian state” is doing so with the help of DLA Partner “Richard Newcomb, who has worked with front-line states and multilateral organizations such as the United Nations and European Union, on compliance with asset controls, embargoes and sanctions.”
The PMA is devoted to “Overseeing the implementation and operation of modern, efficient payment systems.” One wonders if part of the work of DLA Piper will be devoted to attempting to usurping the decision of a New York jury who found that the Palestinian Authority backed a series of terrorist attacks in the early 2000s in Israel that killed or wounded Americans and awarded several hundred million dollars in damages.
Interestingly, DLA Piper is having a banner year in Israel, reporting this week they have “expanded the number of Israel-related transactions it has been involved with thus far in 2015, approaching an aggregate value of US$3 billion in 20 significant foreign transactions on behalf of Israeli institutional investors and companies, foreign investors and acquirers.”
In November 2014, it was reported that Squire Patton Boggs, the largest American lobbying firm, has been hired by the Palestinian Authority for the annual fee of $660,000 ($55,000 a month) to ensure that the PA continues to receive the nearly $500 Million in annual U.S. aid that has already been committed to by the United States. According to Foreign Agent Registration Act (FARA) documents, “Patton Boggs will assist the PA in assessing US funding promises to date and help ensure that further commitments of financial assistance are fulfilled and received by the Palestinians.”
Apparently helping the Palestinian Arabs pays well.
Ronn Torossian is an entrepreneur and author.
