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Armed Gazan Gangs, Some Allegedly Linked to Hamas, Loot $70 Million from Bank of Palestine

Armed Gazan gangs steal $70 million from Bank of Palestine (Credits: The Times of Israel)

According to a report by the French daily Le Monde on Saturday, armed groups in Gaza, including one believed to have links to Hamas, carried out a massive heist last month, stealing approximately $70 million from the Bank of Palestine. The funds were taken from the vaults of several bank branches, with the robbers using explosives and sophisticated tactics to gain access to the safe deposit rooms.

The first incident occurred on April 16, when bank staff discovered a hole in the ceiling of the safe deposit room at one of the bank’s Gaza branches and found that $3 million worth of Israeli shekels intended for cash dispensers were missing.

Hamas-linked Gunmen Rob Bank Of Palestine (Credits: The Guardian)

The next day, armed groups returned to the site, using explosives to blow up a cement protection chamber and making off with over $30 million in various currencies from three safes.

Two days later, the largest Gaza branch of the bank was attacked by commandos claiming to answer to “Gaza’s highest authorities,” which is understood to refer to Hamas. They stole over $36 million worth of shekels, bringing the total amount stolen to around $70 million.

Armed Gazan Gangs Loot $70 Million from Bank of Palestine (Credits: Middle East Monitor)

The Bank of Palestine, founded in 1960, is the leading financial institution in Gaza. The Palestinian Monetary Authority, an independent body that oversees the financial system in Palestinian territories, has announced plans to issue a statement about the incident later on Saturday.

This brazen heist has raised concerns about the security of financial institutions in Gaza and the potential involvement of armed groups in criminal activities. The incident is also likely to have major implications for the economy and financial stability of the region.

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