Israel implements shekel currency replacement in Gaza

Israel is implementing a currency replacement strategy aimed at economically isolating Hamas in the Gaza Strip. The Bank of Israel has recommended replacing old series ‘B’ shekel banknotes with new versions.

Ella Wawiya, an Arabic-speaking spokesperson for the Israel Defense Forces, warned that residents of the Gaza Strip are facing an ‘economic illusion,’ as the old currency they hold could lose all value at any time. The military claims that Hamas leaders are exploiting the situation by encouraging the use of old notes among the population and militants while retaining the new banknotes for themselves.

Israeli authorities have urged the people of Gaza not to accept salaries or payments in the old series of banknotes to avoid the financial consequences of this transition.