Cash Shortage in Gaza: Paper Money Disintegration Adds to Desperation
DEIR AL BALAH, Gaza Strip— In the heart of Gaza, Mohammad Al-Ashaqar, a seasoned jeweler, embarks on his daily ritual of repairing worn-out Israeli shekels using nothing but glue and an X-Acto knife. With over 200 intricate repairs to tackle each day, Al-Ashaqar’s expertise lies in reviving these fragile banknotes to ensure they remain usable amidst a cash crisis gripping the region.
**Desperation Amidst Destruction**
As Gaza reels from the aftermath of over a year of relentless bombardment by Israel, the scarcity of physical money has become a pressing issue for residents. With banks reduced to rubble, ATMs out of service, and Israel halting the flow of bills and coins in and out of Gaza, the local economy is on the brink of collapse. Mohammad Al-Ashaqar, a displaced Gaza City resident, highlights the struggles faced by the population, with tattered bills circulating endlessly and vendors rejecting worn-out currency.
**Banks Struggling to Stay Afloat**
With only a handful of banks still operational in Gaza, the task of recycling and recirculating banknotes is nearly impossible. The once bustling financial sector now stands as a mere shadow of its former self, leaving residents grappling with the consequences. Transporting cash within the enclave presents its own set of challenges, from hostile territorial dynamics to logistical constraints.
**Emergence of Money Brokers**
In the bustling Al-Birka Square, a parallel economy has sprung up, with money brokers offering a lifeline to those in need of cash. Civil servants like Mohammad Al-Tawashi and retirees like Bassam Temraz find themselves at the mercy of these brokers, paying exorbitant commissions to access their hard-earned salaries. Abdallah Al-Mzeiny, a former coffee seller turned broker, sheds light on the lucrative nature of this business, providing a glimpse into the harsh reality faced by many in Gaza.
**A Beacon of Hope**
Amidst the chaos, Mohammad Al-Ashaqar’s humble shop in Deir al Balah serves as a beacon of hope for many. What started as a sideline business has now become a lifeline for countless individuals seeking to salvage their banknotes. Al-Ashaqar’s dedication to his craft not only sustains him financially but also brings a sense of fulfillment in aiding his community during these trying times.
In a region plagued by turmoil and uncertainty, Al-Ashaqar’s story serves as a reminder of the resilience and ingenuity that flourishes even in the face of adversity. As Gaza grapples with a dwindling supply of cash and mounting challenges, the unwavering spirit of individuals like Al-Ashaqar shines through, offering a glimmer of hope amidst the chaos.
