Palestinians in Gaza say bank account closures cut off access to vital funds

What Happened

In early 2024, the Bank of Palestine froze or closed the accounts of nearly 2,000 customers in Gaza, according to the Palestinian Bar Association, leaving them unable to access salaries, aid, and savings. Affected account holders Ahmed Sardah and Taghreed al-Daya told Middle East Eye they received no warning or explanation, with Daya stating her deceased daughter's account was closed immediately after a death certificate was issued, blocking inheritance access. The bank denied acting arbitrarily, asserting compliance with legal and regulatory frameworks, but the Bar Association and Euro-Mediterranean Human Rights Monitor condemned the moves as unjustified and lacking recourse, further eroding the financial lifeline of war-affected Gazans.

Key Actors

Why It Matters

The closures worsen the economic catastrophe in Gaza, where banking apps are essential due to cash shortages and destroyed physical infrastructure, and highlight how private financial decisions can compound the humanitarian crisis, raising issues of accountability and civilian protection.

Watch For

Whether the Palestinian Monetary Authority intervenes; if the bank provides redress or clarifies criteria; potential protests or legal actions by the Bar Association; and whether international bodies address the closures as part of the war's economic impact.