Account freezing threatens banking confidence in Gaza, demands for clear standards to protect clients
A report reviews the repercussions of freezing bank accounts in Gaza, with warnings about its impact on confidence in the banking sector and financial inclusion, and demands for clear standards and gradual procedures to protect clients.
A report from the newspaper "Palestine" addresses the repercussions of freezing bank accounts in the Gaza Strip, warning of its negative impact on confidence in the banking sector and financial inclusion. Specialists demand a balance between oversight and client protection through clear standards and gradual procedures that allow citizens to review their situations before the freeze. The report points to concerns that the Monetary Authority has closed thousands of accounts and financial portfolios at Israeli behest. It quotes economic specialist Mahmoud al-Qashash saying that the account freezing file is a sensitive issue affecting liquidity and confidence, noting that the financial inclusion rate in Palestine reached 73% in mid-2026 with 1.8 million bank clients and 2 million electronic wallets. He warns that closing accounts may push citizens toward cash and the informal market, contradicting the goals of digital transformation. Meanwhile, specialist Ahmed Abu Qamar describes the account freezing as a "real massacre," warning that its continuation weakens the role of the banking system and pushes citizens to buy gold as an alternative, raising its prices and increasing the black market.