Hamas and the PA (PA) operate different financial systems. The U.S. Treasury’s 2024 assessment estimated that Iran provided Hamas roughly $100 million per year and said Hamas’s international investment portfolio had previously been estimated at no less than $500 million. The PA, by contrast, funds public institutions through domestic revenue, donor support and clearance revenues collected by Israel on the PA’s behalf.
Hamas: Iranian support and investments
Treasury described Iran as Hamas’s primary external funder and said the movement used an international investment portfolio managed by its Investment Office. In a 2022 action, Treasury estimated the portfolio’s assets at more than $500 million, including companies operating in Sudan, Turkey, Saudi Arabia, Algeria and the United Arab Emirates. These are Treasury estimates tied to the dates of its assessments, not audited public accounts. Treasury’s 2022 action describes the portfolio and its managers; the 2024 risk assessment describes Iranian support and other funding channels.
Hamas has also raised money through international fundraising and obtained revenue while exercising governing authority in Gaza, including taxes and fees. FinCEN’s May 2024 advisory describes such revenue streams and financial methods used by Iran-backed groups. These categories should not be combined into a single precise annual total: the sources report assessments and financial channels, not a complete audited budget. FinCEN’s advisory summarizes the documented mechanisms.
The PA: public revenue and transfers
The PA collects domestic taxes and fees and receives clearance revenues under the Paris Protocol. Israel collects certain taxes on PA imports and transfers the proceeds, after deductions, to the PA. Donor assistance has also helped finance the PA’s budget. These are public budget flows, distinct from Hamas’s overseas investment network.
The World Bank reported that by the end of 2023 the PA faced a financing gap of $682 million, driven by reduced clearance revenue transfers and falling economic activity; it projected that gap could reach $1.2 billion in the following months. The figures describe the PA fiscal position at that time, not the value of Hamas resources. The World Bank’s May 2024 update gives the estimate and its basis. For how the rival institutions are funded and administered, see the governance comparison.