December 2023 Friday’s e-links: How Money Moves In a War Zone

Last updated 12/15/23

Every once in a while, (and sometimes each day) I listen to a great podcast, enjoy an article, or see a good video that I want to share with you.

This week, I recommend a Financial Times article.  Reminding us that even during a war, people need banks and cash, the FT article detailed how the Bank of Palestine moved millions in Gaza. Because ATMs are a basic necessity in Gaza’s cash economy, the Bank of Palestine arranged for stranded money in the north to move to the south. People needed the money for everyday transactions. They had to access salary deposits. Through an operation called “ConOps-Gaza,” an armored convoy moved 900,000 banknotes worth 180mn shekels (the equivalent of $50mn). With the cash, the Bank could restock ATMs and branch offices.