The Palestinian Monetary Authority announced Thursday that all banks in Gaza would close on Thursday, following the perpetration of a robbery by unknown gunmen who stole cash from the Palestine Investment Bank in Gaza City.

PMA officials did not report the amount of cash taken from the bank, but said the financial institutions would remain closed until the funds were returned.

A statement from the body condemned the robbery, saying the use of weapons against the people of Gaza was unacceptable. The PMA "resents, denounces and condemns the attack," the statement said.

The banking sector in Gaza has remained fragile throughout Israel's siege, suffering shortages when physical cash was barred from entering the coastal enclave, and sector uncertainty when the Arab Bank closed all but two of its branches in May 2010.

PMA officials tried to assuage fears of a bank collapse, which were fanned by reports by economists saying the closure had to do with accusations that the bank was involved with "terrorist organizations," leading to a cut in services in Gaza. There were fears that the bank would close indefinitely.

During the same period, the Palestine Islamic Bank in Gaza City reported three incidents of cash being "withdrawn by force" by Gaza government officials, and in June suspended operations in protest over the actions.

Gaza police said the incident was the legal recovery of $16,000 dollars belonging to a local charity, following a court ruling to unfreeze their funds held in the bank.

That spring and summer, customers reported bank closures, with signs posted on bank doors saying services had been halted after cash was taken from the institution at gunpoint.