Abbas accepts prime minister's resignation

Jerusalem (CNN) -- Palestinian President Mahmoud Abbas on Saturday accepted the resignation of Prime Minister Salam Fayyad, a Palestinian Authority spokeswoman told CNN.

The official Palestinian Authority news agency Wafa published a statement from Abbas, who met with Fayyad at the presidential compound in Ramallah.

The prime minister gave the president his resignation; Abbas asked Fayyad to lead a caretaker government until a new one is formed.

Fayyad's resignation comes after longtime internal policy disputes between the two men.

CNN's Kareem Khadder reported from Jerusalem and Amir Ahmed from Atlanta.