Updated February 17, 2025 at 6:10 p.m.*
GAZA CITY — Mohammed Odeh, a Palestinian Authority civil servant in Gaza, is paid a monthly salary of 2,700 shekels ($750). But he has to pay 23% to a money broker to receive it in cash in the war-torn strip after transferring the salary from his bank account to the broker’s.
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Odeh is one of thousands of Palestinians in Gaza who have been blackmailed by brokers to receive their salaries in cash due to the near-total closure of banks, most of which have been destroyed since the beginning of the war. According to the Palestine Monetary Authority (PMA), many banks were destroyed in Israel’s bombing campaign, and that financial operations have stopped across Gaza. And most ATMs were out of service.
As financial services stopped, brokers’ business flourished across Gaza. They have become the sole alternative through which civil servants receive their salaries in cash. Through fake accounts on social media, brokers offer cash for a commission that reached up 30% of the requested amount. The practice is criminalized under the Palestinian law and the Monetary Authority has said it will impose penalties on those involved in extortion and exploitation.
Yet no measures have been announced against such brokers who are still active in Gaza.
Food money
“During the war, the prices of basic commodities such as flour, oil and sugar doubled. And a family of five needed ,000 a month to meet their food needs if they were available in the markets,” Odeh said.
I transfer my monthly salary to the bank account of the broker.
After the Israeli military invaded Gaza’s southern city of Khan Yunis in December 2023, Odeh stopped using the ATM in his area, and began to rely on brokers to receive his salary in cash. Every time Odeh was exploited and extorted by the brokers, paying a commission that reached 30% of his salary.
“I transfer my monthly salary to the bank account of the broker who in turn gives it to me in cash after deducting the commission,” he said.
Cash available
In the west of Khan Younis, a broker puts up an eye-catching sign that reads in bold letters: “We have cash available at a commission rate.” Dozens of people line up in front of the broker’s small stand set up in the middle of the road. He offers cash to those who want it after deducting his commission. Those standing in front of this stand are seeking to obtain their salaries and savings despite high commissions because there are no operating banks in the area.
In that line, Noha al-Masri, widow of a Palestinian Authority employee, was waiting her turn to receive her salary.
“Every month I come to this place, and I wait for two to three days until my turn comes, to receive my salary,” the 40-year-old woman said. She still receives her husband’s monthly salary through brokers despite the ceasefire. The only difference, she said, is that the commission dropped to 18%, which is still high.
She described the practice as “theft and extortion,” criticizing government agencies in Gaza for not taking action against the brokers, allowing their businesses to flourish.
A great service
Yet broker Hassan Ali argues that he is providing a “great service” to people in light of the closure of banks and the lack of cash.
Selling cash goes through several stages
“The process of selling cash goes through several stages, and the broker does not earn the high commission, as the process begins with buying cash from sellers and paying them a commission according to supply and demand,” he said.
Ali said he was still working in a well-known area in Gaza after the ceasefire, and that he has not received any notification from the Monetary Authority or any government body about his activity.
*Originally published February 6, 2025, this article was updated February 17, 2025 with enriched media.
