Lack of cash, banking services double suffering for Gazans

GAZA, Oct. 1 (Xinhua) -- Emad Abu Shanab, a displaced Palestinian man living in Deir al-Balah, central Gaza, has been struggling to get cash for the needs of his eight-member family.

"When my brother in Türkiye sends money to me, the money exchange shop will deduct about 20 percent of the money (if I want to withdraw it)," the 45-year-old father told Xinhua.

"With the absence of banking services, I am forced to resort to brokers who impose a high commission," he complained. "I need to buy food for my children."

Even if he can withdraw cash, another difficulty Abu Shanab faces is worn-out bills that merchants often refuse to accept.

"We are in dire need of money due to the difficult conditions we are living in, and the high cost of living in the war," he said.

Israel launched a large-scale offensive against Hamas in the Gaza Strip to retaliate against a Hamas rampage through the southern Israeli border on Oct. 7, 2023.

For months, Israel has prevented the import of cash into the Gaza Strip, and now Gaza is experiencing a severe shortage of money.

There are barely any functional ATMs in the Gaza Strip, compared with 91 before October 2023, according to an update released by the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) in mid-September.

"The cash liquidity crisis in Gaza has significantly diminished consumers' spending power, jeopardized people's access to essential goods, limited the capacity of businesses to procure goods and pay wages, and increased reliance on humanitarian aid, among others," the OCHA said in mid-July.

"With the continuation of the Israeli war and blockade on Gaza, we are facing a financial crisis due to the scarcity of cash and the imposition of a large commission on withdrawing salaries from money exchange offices," Aisha Abdullah, a Deir al-Balah-based displaced woman, complained.

"I suffer loss when I can receive my salary, which usually has about 20 percent of its basic value deducted for the withdrawal, and they give us money that is not usable, which doubles our daily suffering, especially in light of the unreasonably high prices," the woman said.

"Isn't the war, killing, and destruction enough? Should we die either from hunger or oppression because of the illogical measures taken by merchants and bank pirates in Gaza?" she asked. ■