IDF Issues Rare Economic Warning to Gaza Residents Over Hamas Currency Scam

The Israel Defense Forces (IDF) issued an unusual and urgent economic warning in Arabic to residents of the Gaza Strip on Monday, alerting them to a large-scale financial scam orchestrated by Hamas. The IDF spokesperson revealed that Hamas is exploiting the dire economic situation in Gaza by circulating old, worn Israeli shekel banknotes that are losing their value. The warning urged Gaza residents to be vigilant and informed them that the Bank of Israel recommends exchanging old banknotes for new ones, as holding onto the old currency poses a significant financial risk.

The IDF statement emphasized that soon these old shekel notes will become worthless, leaving citizens with no value for their cash, while Hamas benefits by offloading the invalid currency. This direct message comes amid reports of severe depreciation of old Israeli shekel bills in Gaza and Hamas’s attempts to trade them on the black market or exchange them with civilians for goods and services.

Despite Hamas’s control over Gaza, the Israeli shekel remains the primary currency for daily transactions, salary payments, and essential purchases. However, due to the blockade and ongoing conflict, the supply of new banknotes from the Bank of Israel to Gaza has been drastically reduced or halted, resulting in the circulation of damaged and heavily worn bills. The Bank of Israel periodically updates its banknote series and withdraws old or damaged notes from circulation, warning that holders who do not exchange them within the designated timeframe risk losing their legal tender status.

The IDF’s Arabic warning aims to undermine Hamas’s efforts to use invalid currency to finance its activities and shift economic losses onto Gaza’s civilian population. This initiative is part of a broader informational and economic campaign to increase public pressure on Hamas within Gaza and prevent the organization from profiting from the humanitarian crisis.