During the truce between Israel and Hamas late last month, 900,000 notes totaling 180 million shekels were secretly moved from the north of the Gaza Strip to the south of the Strip, the Financial Times revealed ( FT). The 200 shekel notes, weighing almost a ton, were transported in a convoy of vehicles.
This unusual mission was supported by the UN under high security and was undertaken with Israel’s knowledge.
The notes were collected at two branches of the Bank of Palestine in the north of the Gaza Strip and the transfer enabled six automated teller machines (ATMs) still operating in the south and center of the Strip to distribute cash. cash, the FT reported.
The aim of the banknote transfer mission was to bring relief to the residents of Gaza and improve the situation in an economy that is largely dependent on cash. Before the war broke out, UN figures showed that 81% of Gaza residents lived in poverty and were dependent on international economic aid.
Since the start of the war and before the truce, there has been a shortage of banknotes in the southern Gaza Strip, while electronic transfers are rare and inflation is raging, the FT reports.
The report adds that during the ceasefire, some bank branches in southern Gaza were able to open and provide emergency services and that the Palestinian Authority instructed banks to authorize loans to employees whose salaries had been reduced or delayed, as well as a request for an offer. emergency financing to businesses and defer repayments to borrowers.
Published by Globes, Israel Business News – fr.globes.co.il – December 10, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
