The Gaza Strip faces a significant cash shortage amidst a devastated economy, causing reliance on an unregulated network of cash brokers. Banks and ATMs are mostly non-operational, leading to transaction fees that have soared to 40%. Rising inflation and high unemployment worsen the situation, pushing families to sell possessions for essentials. Israeli restrictions on cash entry and wealthy families withdrawing money have exacerbated the crisis, with brokers now charging high commissions for limited cash availability. Merchants are hesitant to accept worn bills, further complicating financial transactions.
"The people are crying blood because of this," said Ayman al-Dahdouh, a school director living in Gaza City. "It's suffocating us, starving us."
To curtail Hamas' ability to purchase weapons and pay its fighters, Israel stopped allowing cash to enter Gaza at the start of the war.
As Gaza's money supply dwindled and civilians' desperation mounted, cash brokers' commissions - around 5% at the start of the war - skyrocketed.
Around the same time, many wealthy families in Gaza withdrew their money from banks and then fled the territory.
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