Gaza: Cash crisis persists despite bank reopening
## Financial Access Issues in Deir al-Balah
Financial Access Issues in Deir al-Balah
On Tue, Oct 24, 2023, numerous individuals in Deir al-Balah waited for hours at the Bank of Palestine to access funds but were ultimately unable to do so. The region is facing significant cash liquidity challenges due to the ongoing conflict.
Impact of Conflict on Banking Operations
The Bank of Palestine in Deir al-Balah has remained closed since the onset of the conflict, contributing to the financial strain faced by residents. The bank's closure means it cannot provide cash services to Palestinians, limiting its functionality to guidance only.
Additionally, ATMs in the area have depleted their cash reserves and ceased operations, further exacerbating the situation.
On Tue, Oct 24, 2023, numerous individuals in Deir al-Balah waited for hours at the Bank of Palestine to access funds but were ultimately unable to do so.
Residents, such as Kamilia al-Ajez and Raed Saleh, have expressed frustration over the lack of access to funds. Many Palestinians possess outdated banknotes that merchants do not accept, forcing them to turn to commission traders who charge exorbitant fees.
Local residents, including Wael Basiyoni, have urged authorities to facilitate banking operations and expedite cash flow into the Gaza Strip to address the liquidity issues.
Based on reporting by Africanews.
