Worldcrunch
With many of Gaza’s banks and ATMs destroyed, Palestinians are turning to money brokers to obtain cash — and paying commission fees of up to 30% . While the practice is criminalized under the Palestinian law, many say agencies in Gaza are not taking action against the brokers, allowing their businesses to flourish.
With many of Gaza’s banks and ATMs destroyed, Palestinians are turning to money brokers to obtain cash — and paying commission fees of up to 30% . While the practice is criminalized under the Palestinian law, many say agencies in Gaza are not taking action against the brokers, allowing their businesses to flourish.
NEW DELHI — I am outside the Reserve Bank of India building in New Delhi. It’s 8 a.m. The bank opens at 9 a.m. but more than 300 people have already queued up here. Among them is 60-year-old Mohammad Mustaqeem. He runs a garment shop but hasn’t been able to open it for the last three days. “There’s no business in the market. The only thing for us to do now is to stand in these queues for money because without it we can’t even get food.” “The grocer is now refusing credit so we can’t get milk, we can’t […]
BUENOS AIRES — Argentina’s “inflation effect” is being blamed for the “intensive” use of ATMs in the country. Or at least the attempts to use them, because dispensers are increasingly breaking down or spitting out receipts instead of cash. For an increasing number of customers, what they are mostly good for is putting people in […]
NICOSIA – Cyprus is in a state of shock. The banks have been closed for days and somehow, the country has to raise 5.8 billion euros to qualify for the bailout package proposed by euro zone finance ministers. The initial rejection by the Cypriot parliament to the controversial bank account levy plan, has left this […]