Gaza's Cash Crisis: Palestinians Face Empty Banks Despite Ceasefire and Reopened Financial Institutions

Oct 31, 2025 04:00 pm CST

Despite the recent ceasefire in Gaza and the reopening of banks, Palestinians are struggling with a severe cash shortage as Israel continues blocking banknote transfers. Residents face exorbitant fees from merchants offering to cash electronic salaries, with rates reaching 40%. The financial crisis compounds existing hardships for a population already devastated by two years of conflict, loss of homes, and depleted savings.