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West Bank Banks Stuck with Too Much Cash | Lubbock News
Description
Palestinian banks are drowning in Israeli shekels, unable to deposit or spend cash as physical vaults overflow — a cash crisis fueled by Israel’s capped cash return policy, which officials say stems from anti-money laundering concerns but Palestinians argue is deliberately stifling their economy. With more shekels flowing in than can be withdrawn, essential services are faltering, businesses are borrowing just to pay bills, and gas stations are shutting down — all because cash, once king, is now trapped in a system that’s choking the West Bank’s economy.
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