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Haniya’s economic advisor announces the run out of money in Gaza banks is due to the Israeli boycott

2007-10-17

Haniya’s economic advisor announces the run out of money in Gaza banks is due to the Israeli boycott

Ala’a Alaraj , the Economic Advisor to the Prime Minister Ismail Haniya, stated last week that banks in Gaza had ran out of money. This in the wake of the Israeli Commercial Banks decision to stop all dealings with Palestinian banks in the Gaza Strip run by Hamas. Alaraj explained that due to this decision people responded by withdrawing all their deposits which now led to a shortfall of cash. By the end of last week Israel allowed some money into Gaza in order to alleviate the crisis, according to a Bank manager in Gaza. Economic analysts expressed the belief that there is enough money in Gaza to meet current needs.


 

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