The Palestinian Monetary Authority initiated directives last Wednesday instructing banks operating in the Gaza Strip to resume offering financial and banking services to the public starting Thursday.
The reopening of these branches marks the initial phase in a return to normal operations, which includes reactivating facilities while beginning the reconstruction of other offices, as stated in an official communication from the authority.
Palestine Bank branches will operate from 8:30 AM to 2:30 PM, according to the bank, the largest financial institution in Palestine, as noted in a statement released by the local news agency Sanad.
During the conflict, most banking agencies in the Gaza Strip were destroyed and looted, resulting in an almost total collapse of the financial system.
Residents were compelled to use damaged currency notes or conduct electronic transfers through banking apps that remained functional.
Data released in January by the Palestinian Monetary Authority indicated that only three out of 97 ATMs, which were operational in the Gaza Strip before the conflict, remain functional following the destruction of banking facilities and equipment caused by Israeli bombardments.
