With few coins or notes in circulation, the economy is sliding into barter: cigarettes for bread, fuel for medicine. (Photo: AP)

The guns have fallen silent in Gaza, but the peace has brought little relief for many Palestinians now trapped in a different kind of siege — one of empty banks, cash shortages, and soaring prices.

More than two weeks after Israel and Hamas agreed to a ceasefire, Gaza’s financial system remains paralysed. Banks, many of which were damaged or destroyed during the two-year war, reopened on October 16 for the first time since the truce — but only on paper.

“There is no money, liquidity at the bank,” said Wael Abu Fares, 61, a father of six, standing outside the Bank of Palestine, Reuters reported. “You just come, do some paperwork, and leave.”

Banks reopen, bu

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