22 Hrs
Source:
قدس نت
Financial Crisis Strains Hamas in Gaza
Hamas faces a severe financial crisis in the Gaza Strip related to the disbursement of cash salaries. Traders and employees are increasingly reducing their dealings with paper currency, especially old and worn-out bills, and are turning more and more to electronic payment methods and electronic transfers due to the decline in cash acceptance and Israel's intensified targeting of the movement's financial system. This has made it difficult to cash out funds paid in cash, amid a growing reliance of the population on electronic transfers and a reduction in cash circulation. At the same time, Israeli pressures on financial networks suspected of supporting Hamas have escalated, following targeted strikes against officials and money changers linked to its financial infrastructure, as part of a campaign to prevent Hamas from rebuilding its financial and military capabilities. These developments indicate that Gaza's financial crisis goes beyond a liquidity shortage to include a significant shift in financial practices, marked by a large move towards electronic payments amid deteriorating banking infrastructure and increasing efforts to sustain salary payments through informal networks.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)