What a surprise. “Dollars sent to UN in Gaza end up in Hamas’ pockets,” from Israel Today, May 28 (thanks to Joel):
An investigative report by Israel National News published on Thursday revealed that whenever the UN Relief and Works Agency (UNRWA) in Gaza requests an influx of US dollars to pay its staff, the coastal strip’s Hamas rulers end up making a killing.
It is curious that UNRWA requests the transfer of US dollars, as it did this week when it called for $12.5 million for staff salaries. The bulk of that money is provided by US taxpayers.
The fact is that all financial transactions in Gaza take place in Israeli shekels, the official currency of the territory. In order for the UNRWA staff to be paid in shekels, the dollars are deposited in the Gaza Postal Bank, which is controlled by Hamas. The bank changes the dollars to shekels, charging a hefty fee to do so. The dollars are then reportedly sold again on the Egyptian black market where they command a much higher price.
Hamas makes a large amount of money both on the initial exchange and by reselling the dollars….