‘93 per cent of bank branches in Gaza destroyed’

Palestinian kids wait for a food portion at a distribution centre south of Khan Yunis. Pic/AFP

The World Bank reported that the Israeli war on the Gaza Strip has destroyed approximately 93 per cent of the branches of banks operating in the territory after 15 months of continuous conflict.

In a report distributed in Jerusalem, the World Bank added that the war has also destroyed 88 per cent of microfinance institutions, most money exchange services, and 8 percent of insurance companies.

The report noted that only three out of 94 ATMs are currently operational across the Gaza Strip, according to consistent data from the World Bank and the Palestinian Monetary Authority.

The report highlighted that Palestinians in Gaza are struggling to pay for basic goods and services, including food and medicine, while the disruption to the banking system hampers private sector efforts to resume production, create job opportunities, and pay employee salaries.

94
Total no. of ATMs that existed in Gaza Strip

Another Gaza evacuation ordered

Jerusalem: The Israeli military on Wednesday ordered another evacuation in central Gaza ahead of an offensive in the area, even as Israel and the militant group Hamas appeared to inch closer to a ceasefire in the 14-month war. "This is an advance warning ahead of an offensive," Israeli military spokesman Avichay Adraee posted on X. The order included four residential block areas in the urban refugee camp of Bureij, where Adraee claimed that Palestinian militants fired rockets toward Israel.

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