Gaza forced to use unreliable online payments amid ‘cash famine’

Al Jazeera
Published
Gaza forced to use unreliable online payments amid ‘cash famine’

The story

Israeli restrictions and war damage have created a liquidity crisis, crippling Gaza's banking system and daily commerce.

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The Story At A Glance

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  • • Israeli restrictions and war damage have caused a severe liquidity crisis in Gaza.

  • • A lack of physical shekels has forced residents to rely on unstable digital e-wallets.

  • • Informal money brokers are charging high fees to convert electronic balances to cash.

Context
Gaza relies on a cash based economy that is currently crippled by destroyed banking infrastructure and limited currency inflows. This shortage makes basic survival through food and medicine purchases difficult.

Christian Perspective
The destruction of life and the resulting economic misery in Gaza is a horrific display of

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Source for this news story

Al Jazeera

Gaza forced to use unreliable online payments amid ‘cash famine’

Israeli restrictions and war damage have created a liquidity crisis, crippling Gaza’s banking system and daily commerce.

www.aljazeera.com

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