Hamas has given initial approval for a US-backed proposal for a phased truce and hostage exchange deal in Gaza, dropping a key demand that Israel give an up-front commitment for a complete end to the war, a Hamas and an Egyptian official said Saturday.

According to Times of Israel, simultaneously, a primary obstacle seems to be Hamas's insistence on receiving "written guarantees" from mediators promising to keep up negotiations for a long-term ceasefire agreement once the initial phase of the truce concludes.

The Associated Press was informed by a Hamas spokesperson that the organisation gave its permission following "verbal commitments and guarantees" from mediators that there would be no restart of hostilities and that talks would go on until a lasting ceasefire was achieved.

He stated, "Now we want these guarantees on paper."

Mossad chief David Barnea reportedly told Qatari mediators on Friday that Israel does not accept Hamas's desire for a formal assurance from the mediators that the talks on the second phase of the truce can go on indefinitely if necessary, according to a Walla news report.

According to Axios, Washington is attempting to come to a solution on the issue that will satisfy all parties.

In recent days, Israel has expressed cautious confidence that Hamas's position increases the likelihood of a deal.

Speaking under anonymity, a member of Israel's negotiation team stated on Friday that there was now a genuine possibility of reaching a deal.

This was a stark contrast to earlier incidents in the nine-month-old Gaza conflict, when Israel declared that the conditions Hamas had imposed were intolerable.

If a deal is struck, it may result in the first ceasefire since last November and pave the way for additional negotiations to put an end to the catastrophic nine-month conflict.

However, everyone warned that a settlement is still not a given.

Speaking about the ongoing negotiations under anonymity, Hamas and Egyptian officials stated that the first phase of Washington's phased agreement will involve a "full and complete" six-week ceasefire that would see the release of hundreds of Palestinian prisoners in exchange for the release of several hostages, including women, the elderly, and the wounded.

Israeli forces would also leave Gaza's heavily populated regions during these 42 days, allowing displaced people to return to their homes in the northern part of the territory”, the pair said

The parameters of the second phase, which might see the release of the other male hostages—both civilians and soldiers—would also be negotiated by Hamas, Israel, and mediators during that time, according to the authorities.

Israel would release more Palestinian detainees and inmates in exchange.

During the third phase, all hostages, including the bodies of those who had died in captivity, would be returned, and a lengthy reconstruction project would begin.

According to a Hamas source who spoke to Reuters, the proposal guarantees that mediators will assure the provision of aid, the temporary cessation of hostilities, and the evacuation of Israeli troops—so long as indirect discussions are carried out to carry out the agreement's second phase.