Israeli Forces Raid Ramallah Currency Exchange, Seize $447,000 in Alleged Hamas Funds

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Israeli police said on Wednesday that security forces seized approximately 1.5 million shekels ($447,000) during a raid on a money exchange office in Ramallah, accusing the business of channeling funds to Hamas.

The operation, carried out jointly by Israeli border police and the military on Tuesday, targeted the heart of Ramallah, the administrative seat of the Palestinian Authority. Such incursions into the city remain rare, despite frequent Israeli raids across the occupied West Bank.

According to a police statement, the raid uncovered large sums in multiple currencies — including US dollars, Jordanian dinars, euros, and shekels. Nine suspects “involved in terror activity” were arrested, police added, noting that both the detainees and seized evidence were transferred for further investigation.

The Palestinian Red Crescent reported that dozens of Palestinians were wounded during the operation.

Escalating Raids Amid Gaza War

Israeli raids across the West Bank have intensified since the Gaza war began following Hamas’s October 2023 attack on Israel. While most operations have focused on northern areas such as Jenin and Nablus, Israel has also targeted financial institutions it accuses of funding militant groups.

In recent months, several currency exchange offices have been raided, with similar seizures reported in December 2023 and earlier this year.

Human Toll

According to Palestinian Authority figures compiled by AFP, at least 972 Palestinians — both militants and civilians — have been killed in the West Bank since the war began. In the same period, Israeli sources report at least 36 Israelis, including civilians and security personnel, have been killed in attacks or during military operations in the territory.

Israel has occupied the West Bank since the 1967 Middle East war.