Arab World

$71 Million Stolen from "Bank of Palestine" in Gaza

$71 Million Stolen from

The French newspaper "Le Monde" reported on Saturday that armed groups, one of which claimed to be linked to "Hamas," stole up to 66 million euros (about $71 million) in April from branches of the Bank of Palestine in the Gaza Strip, which is experiencing war between the movement and Israel. The newspaper said it had seen a document sent by the bank "to international partners," describing sophisticated thefts, one of which targeted its main branch in the city of Gaza.

On April 16, employees "noticed a hole in the ceiling of the secure room," explaining that "the criminals seized money from ATMs containing cash in Israeli shekels, amounting to 2.8 million euros." The newspaper added that "on the following morning, April 17, 'armed groups' equipped with explosives returned to the building to blow up a concrete barrier poured just a day before to protect the money, and they succeeded in opening three safes that contained the equivalent of 29 million euros in various currencies."

On April 18, the second, most important branch in the city center was attacked by a group whose members claimed to be "from the highest authorities in Gaza," a phrase referring to Hamas, according to the newspaper. The group left with "an amount equivalent to 33.6 million euros in Israeli shekels."

Furthermore, the Israeli army seized "a large amount of money belonging to the same monetary institution" in the territory, according to information from Le Monde. It reported that Israeli media "stated in February that the confiscated amount reaches millions of dollars and that the operation aimed to prevent Hamas from taking control of it."

The newspaper described the difficulties faced by the Bank of Palestine due to the war in protecting its cash and in allowing residents of Gaza to access money. It confirmed that "only two ATMs are still operational in Rafah and Deir al-Balah when they are supplied with electricity." It added, "According to testimonies from residents of Gaza, reinforced by recordings from surveillance cameras, masked armed men demand a percentage of the money that customers withdraw at ATMs."

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