So, I'm reading that in Western Europe it is seen as crass to offer cash as a gift, say, for someone's birthday or on the occasion of Christmas, and that this is the reason gift cards were created, to get around this cultural taboo.
But that's a generalisation. What's the specifics in your culture?
Here for one, I don't think that there's a taboo against giving cash as gift in Cyprus.
First of all, there are two occasions that it's obligatory:
1. Wedding receptions. You are supposed to give a little envelope with some amount 30~50EUR (at least in my social class). You write the name of your family on the envelope. You give the envelope to the couple who are standing to greet every guest.
2. The concept of Πουλουστρίνα, which is soon: on the 6th of January, the Theophany, colloquially known as Feast of Lights in Cyprus. On that day elders give a small amount of cash to the young members of the neighbourhood. There's supposed to be some carol-singing thing in it, but it's usually skipped.
Now, the non obligatory case: Birthdays. You can give cash if you know the person well (if you do not, you'd try to find a cheap generic gift). Aside the obvious case of older people giving cash, I remember giving and receiving cash from/to peers, ie classmates back when I was a student.
Of course that's an option, not necessarily what you want to do. I'm more likely to give books as gifts to people I know well.