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Cash Crisis in the West Bank | Irvine News

Cash Crisis in the West Bank | Irvine News

Published 2 weeks, 4 days ago
Description

Palestinian banks are stuck with a cash overload—so much Israeli shekel currency they can’t even accept more, crippling daily life and business operations. Caused by a standoff between Israel’s central bank and Palestinian authorities, the crisis stems from Israel’s capped currency returns, which Palestinians say lag behind economic growth. Businesses can’t pay suppliers, gas stations shut down, and some even pay to store their excess cash or borrow in other currencies just to survive. This isn’t just a financial glitch—it’s a weaponized economic squeeze, threatening to collapse the West Bank’s economy if left unresolved.

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