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As guns fall silent, Gazans find newly reopened banks with no cash

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As guns fall silent, Gazans find newly reopened banks with no cash


The ceasefire in Gaza has eased the trauma of Israel’s air strikes and blockade but a shortage of cash has left Palestinians unable to spend what little money they have without falling victim to wartime profiteers.

Banks, many damaged or destroyed along with homes, schools and other institutions across Gaza during two years of war, began reopening on October 16, six days after the ceasefire was announced. Queues soon formed but people came away disappointed.

“There is no money, liquidity at the bank,” said father-of-six Wael Abu Fares, 61, standing outside the Bank of Palestine. “You just come and do paperwork transactions and leave.”

People queue outside the Bank of Palestine amid a cash shortage, in Nuseirat, central Gaza Strip, October 27, 2025. — Reuters
 People queue outside the Bank of Palestine amid a cash shortage, in Nuseirat, central Gaza Strip, October 27, 2025. — Reuters

People need cash for most everyday transactions in Gaza, whether to buy food in the market or pay utility bills, but Israel blocked transfers of banknotes along with most other goods following the attack and mass hostage-taking by Hamas-led fighters in October 2023.

Huge fees to cash salaries

“Banks are open, Air conditioning is on, but they are mostly doing electronic business, no deposits, no withdrawals of cash,” Gaza economist Mohammad Abu Jayyab told Reuters.

“People go to some greedy merchants to cash their salaries and they give them cash for a huge fee, which ranges between 20% and sometimes goes to 40%.”

Mother-of-seven Iman al-Ja’bari longs for a time when transactions at banks used to take less than an hour.

“You need two or three days to go back and forth, back and forth, spending your whole life standing there,” she said. “And in the end, you only get 400 or 500 shekels ($123 or $153). What can this (amount) buy with the incredibly high prices today that we can’t afford?”.

Palestinian woman Manal al-Saidi examines a damaged banknote as she repairs money on a street, amid a cash crisis, in Nuseirat, central Gaza Strip, October 27, 2025. — Reuters
Palestinian woman Manal al-Saidi examines a damaged banknote as she repairs money on a street, amid a cash crisis, in Nuseirat, central Gaza Strip, October 27, 2025. — Reuters 

For a few Palestinians, the cash crunch has provided an opportunity to eke out a living. Manal al-Saidi, 40, repairs damaged banknotes to cover some basic needs.

“I work and I make 20, 30 shekels ($6, $9), and I leave with a loaf of bread, beans for dinner, falafel, anything, something simple,” she said, wiping notes.

“Not that I can get (afford) vegetables or anything, no, just enough to get by.”

Some people resort to electronic transfers through bank apps for even small items such as eggs or sugar, but the sellers apply additional fees.

The issue of cash supplies into Gaza was not included in US President Donald Trump’s 20-point peace plan, which also left the details of reconstruction and security to be decided.

A drone view shows tents of displaced Palestinians, in Gaza City, October 28, 2025. — Reuters
A drone view shows tents of displaced Palestinians, in Gaza City, October 28, 2025. — Reuters 

COGAT, the arm of the Israeli military that oversees aid flows into the Gaza Strip, did not immediately respond to a request for comment on whether or when banknotes may be allowed back in.

The shortage of notes and coins has compounded the crisis for Gazans who have lost relatives, jobs and homes, used up their savings and sold their possessions to buy food, tents and medications. Some have resorted to barter to get by.

Palestinian merchant Samir Namrouti, 53, has got used to banknotes that are almost unrecognisable through overuse.

“What matters to me is its serial number. As long as its serial number is there, that’s it, I treat it as money,” he said.


Header image: Palestinian woman Manal al-Saidi repairs damaged banknotes on the side of a street, amid a cash crisis, in Nuseirat, central Gaza Strip, October 27, 2025. — Reuters





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US delegation ‘en route’ to Islamabad as Iran ‘positively reviews’ participation in talks

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US delegation ‘en route’ to Islamabad as Iran ‘positively reviews’ participation in talks



A US delegation led by Vice President JD Vance is en route to Pakistan and expected to land in Islamabad within hours for the second round of talks with Iran, President Donald Trump said on Monday.

Trump confirmed the development in an interview with the New York Post, saying he would be willing to meet Iranian leaders himself if progress is made in the talks.

Apart from Vance, the US delegation includes Trump’s son-in-law, Jared Kushner, and Special Envoy to the Middle East Steve Witkoff, as per a report by Axios.

If reports about the other delegation members are accurate, it would mean the US delegation is the same as in the first round of Iran talks held in Islamabad on April 11.

However, a source familiar with the plan told AFP on Monday that a US delegation will head to Pakistan “soon” for a new round of peace negotiations with Iran.

Meanwhile, mediator Pakistan — which brokered a two-week ceasefire between the two sides on April 8 — was making efforts to end the US naval blockade of Iranian ports and to ensure Iran’s participation in the peace talks.

With the ceasefire set to expire, a senior Iranian official told Reuters that Tehran was “positively reviewing” its participation following Pakistan’s efforts, but no final decision had been made.

The comments conveyed a clear change of tone from earlier statements ruling out attendance and pledging to retaliate for US aggression.

Separately, Deputy Prime Minister and Foreign Minister Ishaq Dar held a phone call with Iranian Foreign Minister Abbas Araghchi, emphasising the importance of continued dialogue and engagement to resolve all pending issues.

DPM Dar stressed that persistent dialogue was essential to ensure regional peace and stability, read a statement issued by the Foreign Office.

Since the announcement of the ceasefire, Tehran and Washington have disagreed on a number of issues, including Iran’s blockade of the Strait of Hormuz and the US naval blockade of Iranian ports.

Tehran effectively blocked the waterway and launched attacks against Israel and US bases across the Middle East in response to the joint US-Israel attacks on February 28.

Iranian Foreign Minister Abbas Araghchi, on April 17, announced the reopening of the strait for commercial vessels following the ceasefire in Lebanon.

However, Iranian authorities blocked the waterway again the following day, citing the US blockade of Iranian ports.

On April 18, the Islamic Revolutionary Guard Corps (IRGC) said that the US blockade represented “acts of piracy and maritime theft”.

“Until the US restores full freedom of navigation for vessels travelling from Iran to their destinations and back, the status of the Strait of Hormuz will remain tightly controlled and in its previous condition,” it said.

US Marines board Iranian vessel

The ceasefire had appeared in jeopardy after the US said it had seized an Iranian cargo ship that tried to run its blockade, and Tehran vowed to retaliate.

The US military said it had fired on an Iranian-flagged cargo ship headed towards Iran’s Bandar Abbas port on Sunday after a six-hour standoff, disabling its engines.

US Central Command released a video showing Marines descending ropes from helicopters onto the vessel.

Iran’s military said the ship had been travelling from China and accused the US of “armed piracy”, according to state media.

They said they were ready to confront US forces over the “blatant aggression”, but were constrained by the presence of crew members’ families on board.

Trump on Sunday warned that the US would destroy every bridge and power plant in Iran if it rejected his terms, continuing a recent pattern of such threats.

Iran has said that if the US were to attack its civilian infrastructure, it would strike power stations and desalination plants in its Gulf Arab neighbours.



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‘War benefits no one’: Pezeshkian urges unity among Muslim nations to foil foreign plots

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‘War benefits no one’: Pezeshkian urges unity among Muslim nations to foil foreign plots



Iran’s President Masoud Pezeshkian says strengthening unity among Islamic countries is the most important way to counter conspiracies and prevent foreign powers from taking advantage.

Speaking during a supervisory visit to the Ministry of Justice on Monday, Pezeshkian received a comprehensive report on the ministry’s actions and missions under the special circumstances resulting from the recent US-Israeli aggression.

Pezeshkian noted that through “empathy, honesty, and collective participation, we can get past this stage and continue the country’s path toward dignity and progress.”

He highlighted the need for a rational approach toward regional and international developments, adding, “War benefits no one. While standing firm against threats, we must use every rational and diplomatic path to reduce tensions.”

He further noted that distrust toward the enemy and vigilance in interactions remain an undeniable necessity.

Following the US and Israel’s recent aerial strikes on Iran launched on February 28, Iran retaliated with barrages of missile and drone attacks on Israeli-occupied territories and US bases and interests in the region.

The president noted that passing through the battlefield does not mean the end of the road. Rather, it marks the beginning of a more important phase: the ‘Greater Jihad.'”

He described this as a struggle in which all people must play a role through patience, tolerance, cooperation, and active participation in rebuilding the country and solving its problems.

“This phase requires greater mental and social readiness than the war era,” he added.

Referring to the decisive role of the guidance of the Leader of the Islamic Revolution Ayatollah Seyyed Mojtaba Khamenei and martyr Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, Pezeshkian stated, “The support and directives of the great and martyred Leader of the Revolution have been a solid pillar for the government since the very beginning of its work.

“It was the coordination formed in the light of these guidelines that today makes effective decision-making and overcoming challenges possible,” he highlighted.



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UK’s Starmer admits should never have named Mandelson as US envoy

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UK’s Starmer admits should never have named Mandelson as US envoy


British Prime Minister Keir Starmer leaves after the multinational virtual summit and press conference at the Elysee Presidential Palace in Paris, France, April 17, 2026.— Reuters/File
British Prime Minister Keir Starmer leaves after the multinational virtual summit and press conference at the Elysee Presidential Palace in Paris, France, April 17, 2026.— Reuters/File 

Embattled Prime Minister Keir Starmer said on Monday he had been wrong to appoint Labour politician Peter Mandelson as UK envoy to Washington, seeking to quell anger over a scandal surrounding Jeffrey Epstein’s long-time associate.

Starmer, already widely unpopular with the public and many Labour MPs, is struggling to manage a controversy that has threatened to bring down his leadership.

Addressing parliament about the deepening political row, Starmer said: “At the heart of this, there is also a judgment I made that was wrong. I should not have appointed Peter Mandelson.”

He faced fresh calls to quit last week after it was revealed that Mandelson — whose friendship with the late convicted US sex offender was long known — had become Britain’s envoy to Washington last year despite failing security checks.

Starmer has insisted that he and other ministers were not told until last week that Mandelson had failed the independent vetting process.

“It beggar’s belief that throughout the whole timeline of events, officials in the Foreign Office saw fit to withhold this information from the most senior ministers in our system, in government,” he told MPs.

“If I had known before he took up his post that (the) recommendation was that developed vetting clearance should be denied, I would not have gone ahead with the appointment.”

‘Unconventional’

Last Thursday, Starmer sacked the Foreign Office’s top civil servant, Olly Robins, telling MPs that he had set in motion a review of the security vetting process.

But ex-civil servants have accused Starmer of scapegoating Robbins, who will give his own account to a parliamentary watchdog committee on Tuesday.

Opposition leaders have called for the centre-left Labour leader to step down, with accusations ranging from incompetence to willful misleading of parliamentarians and the public.

Starmer told parliament in February that “full due process” was followed when Mandelson was vetted and cleared for the key role.

His Downing Street office has insisted that remains true because government rules meant the Foreign Office had the power to overrule vetting concerns, without the knowledge of Starmer and his top team.

On Friday, Downing Street took the unusual step of releasing a memo that insisted he had only found out about the vetting failure last Tuesday.

Senior ministers have so far rallied around Starmer.

“A judgement was made that the Trump administration was an unconventional administration and an unconventional ambassador could do a job for the United Kingdom,” Scotland Secretary Douglas Alexander said Monday.

“That judgement was wrong and the prime minister accepts that.”

‘He has to go’

Other ministers have argued that Starmer should remain in power amid the global tumult sparked by the Middle East war and other issues, including forging closer relations with the European Union.

But polls suggest Starmer is one of Britain’s most unpopular prime ministers ever.

If Starmer had known about the failed vetting “then he has to go, he has to resign”, retired dentist Andrews Connell, 59, told AFP.

“If he knew that’s really bad. If he didn’t know, he should have known.”

Pensioner Lyndia Shaw, 73, agreed saying Starmer is “absolutely hopeless, hopeless, and I feel that yes Mandelson should face the full force of the law without doubt”.

But retiree Duncan Moss, 67, said he would be “very worried if Starmer was to leave and to not run the country. I think he’s doing a very good job. I think he’s a very mature, experienced leader”.

Starmer sacked Mandelson in September 2025, seven months after he took up the post, after new details emerged about the depth of the ex-envoy’s ties to Epstein, who died in a US prison in 2019 while facing sex-trafficking charges.

UK police are investigating allegations of misconduct in office by Mandelson, 72, when he was a Labour minister more than 15 years ago. He was arrested and released in February.

Mandelson has not been charged and denies criminal wrongdoing.

Starmer and his Labour party are also bracing for a chastening set of local elections next month, including in the devolved Scottish and Welsh parliaments.





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