A ceasefire agreement in the Gaza Strip is imminent, with most of its terms already agreed upon, a senior official from the Palestinian Islamic Jihad movement said on Saturday.

The official, who required anonymity, said the proposed agreement outlines a gradual cessation of hostilities and the withdrawal of Israeli forces from the Gaza Strip, with the final deal also including a comprehensive prisoner-for-hostage exchange and a permanent end to the war between Hamas and Israel.

Although some contentious points are still being negotiated, they are not expected to be a major obstacle to reaching a final agreement, added the official.

The source also expressed optimism that the agreement would be finalized before the end of the year, as long as Israel does not impose new conditions.

There is political will from all parties to reach a lasting resolution to the Gaza conflict, which has persisted for over 14 months, according to the official.

The ongoing negotiations, mediated by Egypt and Qatar with the participation of the United States, are based on a plan introduced by the United States in May to end the war, which began on Oct. 7, 2023, after Hamas's attack on southern Israel that resulted in about 1,200 deaths.