Financial Times FT.com

Cash shortage forces Gaza banks to shut as Israel ratchets up pressure

By Tobias Buck in Jerusalem

Published: December 6 2008 02:00 | Last updated: December 6 2008 02:00

Banks inside the Gaza Strip have been forced to shut because of a shortage of cash, leaving tens of thousands of families without money ahead of a Muslim festival on Monday.

According to Palestinian officials, Gaza's financial institutions have all but run out of notes and coins - a result of the severe Israeli restrictions on the flow of goods, people and money into and out of the strip.

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