News Briefs

  12/22/2008, Kislev 25, 5769

Hamas Uses Cash for Black Market Profits in Gaza

The Hamas terrorist organization has "large stashes of shekels which they have been selling on the black market at a premium because of the cash shortage," the London Guardian reported. It said that Hamas may exchange the shekels for American dollars, which are smuggled through tunnels from Egypt.

Israel transferred 100 million shekels to Gaza banks earlier this month in order to allow the Palestinian Authority to pay its salaries. However, the PA said it could not guarnatee that some of the money would not end up in the hands of Hamas.