• pageflight@piefed.social
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    2 days ago

    Interesting content! Is it available as a web page and not PDF?

    Anyway, from the first article:

    Palestinians do not have their own currency. Under the 1994 Paris Protocol, they were locked into using the Israeli shekel, with no central bank of their own to issue money or set monetary policy. […] Since Palestinians clear their money in shekels, Palestinian banks can only settle transactions by routing through Israeli correspondent banks. Those banks process Palestinian transactions only under an indemnity waiver from Israel’s finance ministry, a piece of paper that shields them from legal liability for handling Palestinian-linked money. The waiver has to be renewed on a schedule, which means that a routine bit of financial plumbing doubles as a political switch that someone in a ministry can flip.

    While some people in Gaza have access to Bank of Palestine accounts, many have lost this access or never had it. Cryptocurrency has become one of the most reliable ways to get funds directly to those who need them.