The main Palestinian banking association has said that all banks across Gaza have halted operations, the latest deterioration in living conditions to hit the war-ravaged enclave. The main Palestinian banking association has said that all banks across Gaza have halted operations, the latest deterioration in living conditions to hit the war-ravaged enclave.
The main Palestinian banking association has said that all banks across Gaza have halted operations, the latest deterioration in living conditions to hit the war-ravaged enclave.
Bashar Yasin, general manager of the Association of Banks in Palestine, confirmed the closure on Wednesday.
The association represents banks across the occupied West Bank and Gaza.
A number of banks had been semi-operational across Gaza before Wednesday, including a large Bank of Palestine branch in the central city of Deir al-Balah.
It was not immediately clear why the branch, the last place that Palestinians could withdraw cash, was closed.
The 10-month war has devastated Gaza’s already fragile economy, displacing most of the population, causing widespread damage and leaving the vast majority of Palestinian workers unemployed.
A cash crisis has worsened these problems, with displaced people having little or no access to their meager savings as prices for food and basic commodities have increased.
For months, hours-long queues had formed outside the few working branches and cash points, with limits on how much could be withdrawn.
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