Bank of Palestine to resume operations on Sunday

The Palestinian Monetary Authority began issuing instructions last Wednesday to banks operating in the Gaza Strip to begin providing financial and banking services to the public starting Thursday.

The reopening of these agencies is the first step in a return to normality, which includes the reactivation of the facilities while the reconstruction of the remaining offices begins, according to a statement from the authority.

Bank of Palestine branches will be open from 8:30 a.m. to 2:30 p.m., the bank, Palestine's largest financial institution, said in a statement carried by local news agency Sanad.

During the war, most bank branches in the Gaza Strip were destroyed and looted, causing a near-total collapse of the financial system.

Citizens were forced to use damaged notes or make electronic transfers through banking applications that remained operational.

According to data released in January by the Palestinian Monetary Authority, only three of the 97 ATMs that operated in the Gaza Strip before the war are operational, following the destruction of bank branches and equipment caused by Israeli bombing.

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