On 25 February 2004, Israeli police, Internal Security Agency (Shabak) officers and Border Police raided branches of the Jordan-based Arab Bank and the Cairo Amman Bank in the West Bank town of Ramallah, seizing in cash from the bank vaults more than NIS 35 million (the equivalent of US$ 7 million). The sum corresponded to the amount of money held in over 200 accounts belonging to individuals, charities and non-governmental organisations. This report analyses the bank raid in light of international law, as well as bilateral agreements between Israel and Palestine.