Following the ceasefire in Gaza, the end of Israeli bombardments has brought some temporary relief, yet the absence of currency in circulation continues to cripple daily existence. While the sound of airstrikes has faded, thousands of families are now trapped in an economic impasse, unable to withdraw cash or rebuild their financial stability.
Local banks reopened on October 16, just six days after the truce, but the nation’s economic pulse remains weak. Across devastated streets, residents queue in front of damaged bank branches, hoping for financial access that rarely arrives. Wael Abu Fares, a 61‑year‑old father supporting six children, summarized the frustration: “There is no cash, only empty forms and long waits.”
In a region where most purchases still require cash, Israel’s restrictions on banknote transfers have transformed salary collection into a costly process. According to economist Muhammed Abu Jayyab, banks now function mainly for electronic transactions. He explains, “The systems are online, but people can neither deposit nor withdraw tangible money.” Therefore, workers turn to private merchants who release salaries—often in exchange for commissions reaching 40%.
Amid this liquidity vacuum, creativity has turned necessity into livelihood. Manal al‑Saidi, for example, earns a modest income repairing worn or partially damaged banknotes so that they can still be used in local markets. Everyday purchases—such as sugar or eggs—are now completed through mobile apps, though additional service fees further strain household budgets.
The broader political framework offers little optimism. U.S. President Donald Trump’s 20‑point peace plan ignored the cash‑flow issue entirely, leaving uncertainty over both economic reconstruction and security arrangements. Even COGAT, the Israeli military agency supervising humanitarian movements, has not clarified when fresh banknotes might re‑enter Gaza’s economy.
For Gazans who have lost their homes, relatives, and livelihoods, this shortage has deepened already desperate conditions. Many have exhausted their savings, sold personal belongings to secure essentials, or turned to bartering and trade exchanges to survive in a society painfully rebuilding itself amidst financial paralysis.
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