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Little gold coins help the poor in Gaza to save
By Nidal Al-Mughrabi
Reuters
Thursday, September 7, 2023
GAZA -- A Gaza dentist has developed ultra-lightweight gold coins to allow people without much money to access to one of the most widely used savings methods across the Middle East.
"The idea stemmed from the community's need to own gold amid the difficult living conditions the people live in," said Ahmed Hamdan, who developed the coins, which range in weight from half a gram to 10 grams.
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"We have made gold available to people of all categories, gold that even the poor and those with low income can get," Hamdan said.
The 21-carat-gold coin, which bears the image of the Dome of the Rock shrine in Jerusalem on one face with the word "Palestine" underneath, is licensed and stamped by the Ministry of Economy in Gaza, run by the Islamist Hamas group since 2007.
However Osama Nofal, the head of policy at Gaza Economy Ministry, stressed that the coins were not legal tender.
"It mustn't be interpreted as if it were a future currency. It is no more than a way of saving," he said. ...
... For the remainder of the report:
https://www.reuters.com/world/middle-east/gaza-little-gold-coins-help-poor-save-2023-09-07/
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