Gaza: Cash crisis persists despite bank reopening

On Tuesday, dozens of people in Deir al-Balah spent hours in line at the Bank of Palestine hoping to access their money but were turned away.

The cash-strapped territory has been wrestling with cash liquidity since the beginning of the two-year war between Hamas and Israel.

“Without having the bank open and without money, it does not matter that the prices (in the market) have dropped,” Kamilia al-Ajez, who was displaced from the southernmost city of Rafah, said.

The bank in the central town of Deir al-Balah, which was closed shortly after the war began, does not have cash to offer to Palestinians.

“It is only available for guidance,” Raed Saleh, who was displaced from the northern Jabaliya refugee camp, said, adding that after a tireless journey and a 12-hour wait, he found out that the bank employee had no powers at all.

“We have had nothing since the beginning of the war; we don’t know what to do with the bank.”

ATMs ran out of cash and went out of order during the conflict with Israel.

Today, most Palestinians in Gaza either have worn-out bank notes that merchants refuse, or go to the commission traders who have charged up to 50% since the war.

“We call on authorities to facilitate the job of banks and expedite cash entry to resolve the cash liquidity problem in the Gaza Strip,” said Wael Basiyoni, who was displaced from the northern town of Beit Hanoun.