A shadowy market of Hamas-linked money changers have become Gaza’s gatekeepers of cash, enriching the terror group while ordinary Palestinians find that accessing salaries can cost as much as 40%
“Hamas has essentially become Gaza’s shekel bank. It controls the flow of cash, oversees networks of money changers, and profits from every transaction — whether it’s aid, salaries, or fuel,” Eyal Ofer, an expert on Gaza’s economy and a former government advisor told The Press Service of Israel.
“In Gaza, a whole industry of money changers has emerged. People are getting aid via banking apps, but to turn that into real currency, they must go through brokers. They withdraw funds from these digital wallets and charge outrageous fees — anywhere between 20% and 40%. This is one of the ways Hamas is making a profit,” he points out.
With Gaza’s banks closed, ATMs down, and aid distributed via digital apps, Ofer estimates that 100–150 money changers are currently active in Gaza. At least half are using Hamas funds, and some have been designated for terror financing by Israel’s Ministry of Defense.