GAZA CASH CONVOY MOVES BANKNOTES

 

During the Israel-Hamas truce at the end of last month, 900,000 banknotes totaling NIS 180 million were secretly moved from the north of the Gaza Strip to the south of the Strip, "The Financial Times" (FT) has revealed. The 200 shekel notes, weighing nearly a ton, were transported in a convoy of vehicles.

The unusual mission was supported by the UN under heavy security and was undertaken with the knowledge of Israel.

The banknotes were collected from two branches of the Bank of Palestine in the north of the Strip and the transfer enabled six automated teller machines (ATMs) still operating in the south and the center of the Strip to dispense cash, the FT reported.

The aim of the mission to transfer the banknotes was to bring relief to the Gaza residents and ease the situation in an economy that depends largely on cash. Before the outbreak of the war, UN figures showed that 81% of Gazan lived in poverty and relied on international economic aid.

Since the start of the war and prior to the truce, there was a shortage of banknotes in the south of the Gaza Strip, while electronic transfers are rare and inflation is raging, the FT reports.

To read the complete articles, see:
Cash convoy moves 900,000 banknotes through Gaza - report (https://en.globes.co.il/en/article-cash-convoy-moves-900000-banknotes-through-gaza-report-1001464623)
Report: Secret Transfer of Banknotes Supports Gaza's Cash Flow Amid Conflict (https://hamodia.com/2023/12/10/report-secret-transfer-of-banknotes-supports-gazas-cash-flow-amid-conflict-fallout/)
Unusual convoy': the mission to retrieve 900,000 banknotes from north Gaza (https://www.ft.com/content/4efde557-1c78-45ad-9982-8855e1837fdd)

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