Palestinian teenagers were seen enjoying trampolines and hoops inside a large tent on the outskirts of Ramallah, the financial center of the occupied West Bank.
The Palestinian Circus School’s director faced financial obstacles in purchasing the tent from Europe and trampolines from Asia.
Mohamad Rabah, the head of the Palestinian Circus School, expressed the difficulties they face with international payments, causing delays in equipment delivery.
Banking in the Palestinian territories is complicated due to scrutiny over potential terror financing, hindering transactions for the Palestinian Authority (PA).
Israel has controlled the West Bank since 1967, with strong economic ties allowing two Israeli lenders to operate as correspondent banks in the area.
There is concern that Israel’s Finance Minister might sever this vital banking route next month.
After an attack in Gaza on October 7, Israel imposed economic restrictions on the PA, including withholding tax revenues that it collects on behalf of the PA.
Amid threats to terminate banking relations, there is fear that this could lead to a collapse of the banking system and the PA in the West Bank.
Palestinian businesses have suffered since October 7, with impacts on various sectors such as manufacturing and tourism.
The United States has warned that severing the banking route between Israel and Palestine would lead to a humanitarian crisis in the West Bank.
As a response to these challenges, Palestinian policymakers are considering alternatives such as creating a digital currency to address the economic woes.
