Exclusive - Head of the Gas Stations Association: Accumulation of Cash Flows Exceeding 150% Led to a Standstill in Operations

SadaNews - Osama Musleh, head of the Gas Stations Association in the West Bank, confirmed that the fuel and gas sector is facing a real and escalating crisis, especially in light of the current banking procedures and the banks' failure to adhere to the instructions of the Palestinian Monetary Authority and the Ministry of Finance.

Musleh added in a special interview with SadaNews: "The crisis is still escalating, particularly with the measures taken by the banks, especially regarding the return of checks deposited by the stations and issued by customers.. this has led to a suffocating cash flow crisis."

To view the full interview:

Musleh explained that the banks are dealing independently with gas stations and are returning checks without clear justifications, which has led to an accumulation of bounced checks and an increase in cash flow exceeding 150%, threatening the operational capacity of distribution stations.

He pointed out that there was a previous preliminary agreement with the Ministry of Finance and the Monetary Authority to experiment with electronic payment as an alternative solution, but he considered that the Palestinian citizens are not yet equipped for this type of transaction, adding: "Neither the citizen nor the employee is capable of using 'the visa' due to their debts and accumulated obligations to the banks. The majority of citizens and employees are tied to the banks with their vehicles and apartments, and even salaries do not cover loan installments."

Musleh also criticized the lack of the banking sector's role in preparing the market to use electronic payment methods, and its failure to educate citizens or postpone loans to facilitate the adoption of the new system.
He continued: "Banks are supposed to initiate building this culture and postpone citizens' obligations to allow them to use electronic means, but the reality is completely different."