The Gaza Strip's economy is facing a severe cash shortage, hindering daily life. With banks and ATMs largely inoperable, obtaining money is extremely difficult.
Residents are forced to rely on a powerful network of cash brokers to access their funds. These brokers operate with little oversight.
Commissions for these transactions have skyrocketed, reaching as high as 40 percent. This practice is devastating families' finances.
Inflation in Gaza surged by 230 percent in 2024. Many families are selling possessions just to afford essential goods like flour and sugar.
The shekel currency used in Gaza is also deteriorating. Merchants are increasingly reluctant to accept worn or damaged banknotes.
The scarcity of cash has magnified the financial distress. For many, humanitarian aid is now the only way to obtain food.
Source: https://www.arabnews.com/node/2607704/middle-east