In a bustling Gaza City market, a money repairer expertly inspects a worn, yellow 100 shekel ($30.50; £23.10) note. He straightens it out and enhances its faded colour with careful strokes of a pencil. Baraa Abu al-Aoun should have been studying at university - but instead he ekes out a living from a table he has set up at the roadside, taking a small sum to help keep cash in circulation.
Fixing banknotes is a thriving new business in Gaza. Ever since the deadly Hamas-led attack on Israel in 2023 and the devastating war that ensued, Israel stopped transfers of banknotes, along with most other supplies. Most banks were destroyed in Israeli strikes, and many were looted. While some branches have reopened since a ceasefire took effect seven weeks ago, there are still no working ATMs.
But people need cash to buy food and essentials. That has forced them to turn to informal money merchants who charge enormous commissions to turn digital transfers into cash. It has also sparked a huge increase in the use of e-wallets and money transfer apps. And it means that every existing banknote matters more than ever - no matter how tattered. That's where Baraa comes in. My tools are simple: a ruler, pencils, coloured pencils and glue, he says.
Gaza's economic collapse has been so catastrophic during two years of intense war that a new UN report says its entire population of more than two million has been pushed into poverty. Four in five people are now unemployed according to the UN Conference on Trade and Development (Unctad), and even those who still have an income or savings struggle to access cash.
The lack of cash circulating has 'caused problems for both sellers and buyers', says Zakaria Ajour, a stall-holder at another market in Gaza City. People don't want to accept worn and delicate notes at face value any more.
Now, there are long lines outside the Bank of Palestine in Gaza City, one of nine branches of five banks that have reopened. Customers can only reactivate frozen accounts, open new ones, or sign on to banking apps.
Despite these challenges, Baraa continues his work, longing for a return to a normal life with prospects of more profitable employment. In Gaza, we're just surviving. We're not human beings anymore, he reflects.
Fixing banknotes is a thriving new business in Gaza. Ever since the deadly Hamas-led attack on Israel in 2023 and the devastating war that ensued, Israel stopped transfers of banknotes, along with most other supplies. Most banks were destroyed in Israeli strikes, and many were looted. While some branches have reopened since a ceasefire took effect seven weeks ago, there are still no working ATMs.
But people need cash to buy food and essentials. That has forced them to turn to informal money merchants who charge enormous commissions to turn digital transfers into cash. It has also sparked a huge increase in the use of e-wallets and money transfer apps. And it means that every existing banknote matters more than ever - no matter how tattered. That's where Baraa comes in. My tools are simple: a ruler, pencils, coloured pencils and glue, he says.
Gaza's economic collapse has been so catastrophic during two years of intense war that a new UN report says its entire population of more than two million has been pushed into poverty. Four in five people are now unemployed according to the UN Conference on Trade and Development (Unctad), and even those who still have an income or savings struggle to access cash.
The lack of cash circulating has 'caused problems for both sellers and buyers', says Zakaria Ajour, a stall-holder at another market in Gaza City. People don't want to accept worn and delicate notes at face value any more.
Now, there are long lines outside the Bank of Palestine in Gaza City, one of nine branches of five banks that have reopened. Customers can only reactivate frozen accounts, open new ones, or sign on to banking apps.
Despite these challenges, Baraa continues his work, longing for a return to a normal life with prospects of more profitable employment. In Gaza, we're just surviving. We're not human beings anymore, he reflects.
