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Banking In Israel
Banking in Israel has its roots in the Zionist movement at the beginning of the 20th century prior to the establishment of the State of Israel in 1948. History The World Zionist Organization established the Anglo-Palestine Bank in 1903 (which later was renamed Bank Leumi). The two largest banks control over 60% of the banking activity, and the top five over 90%. Most of the banks were nationalized when their stocks collapsed in the 1983 bank stock crisis. Since then the government has sold much of its bank stock holdings, but still remains a large stockholder in many of the now privately held banks. The government sold Bank Hapoalim in 1996 and Bank Mizrahi (now merged into Bank Mizrahi-Tefahot) in 1998. The government also sold a major part of its stock in Discount Bank in 2006, and of Leumi Bank in 2005. Major banks Supervision and regulation The Bank of Israel supervises Israeli banks via the Supervisor of Banks. The tasks and authority of the Supervisor of Banks are bas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zionist Movement
Zionism ( he, צִיּוֹנוּת ''Tsiyyonut'' after ''Zion'') is a nationalist movement that espouses the establishment of, and support for a homeland for the Jewish people centered in the area roughly corresponding to what is known in Jewish tradition as the Land of Israel, which corresponds in other terms to the region of Palestine, Canaan, or the Holy Land, on the basis of a long Jewish connection and attachment to that land. Modern Zionism emerged in the late 19th century in Central and Eastern Europe as a national revival movement, both in reaction to newer waves of antisemitism and as a response to Haskalah, or Jewish Enlightenment. Soon after this, most leaders of the movement associated the main goal with creating the desired homeland in Palestine, then an area controlled by the Ottoman Empire. From 1897 to 1948, the primary goal of the Zionist Movement was to establish the basis for a Jewish homeland in Palestine, and thereafter to consolidate it. In a unique vari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State Of Israel
Israel (; he, יִשְׂרָאֵל, ; ar, إِسْرَائِيل, ), officially the State of Israel ( he, מְדִינַת יִשְׂרָאֵל, label=none, translit=Medīnat Yīsrāʾēl; ), is a country in Western Asia. It is situated on the southeastern shore of the Mediterranean Sea and the northern shore of the Red Sea, and shares borders with Lebanon to the north, Syria to the northeast, Jordan to the east, and Egypt to the southwest. Israel also is bordered by the Palestinian territories of the West Bank and the Gaza Strip to the east and west, respectively. Tel Aviv is the economic and technological center of the country, while its seat of government is in its proclaimed capital of Jerusalem, although Israeli sovereignty over East Jerusalem is unrecognized internationally. The land held by present-day Israel witnessed some of the earliest human occupations outside Africa and was among the earliest known sites of agriculture. It was inhabited by the Canaanites ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Zionist Organization
The World Zionist Organization ( he, הַהִסְתַּדְּרוּת הַצִּיּוֹנִית הָעוֹלָמִית; ''HaHistadrut HaTzionit Ha'Olamit''), or WZO, is a non-governmental organization that promotes Zionism. It was founded as the Zionist Organization (ZO; 1897–1960) at the initiative of Theodor Herzl at the First Zionist Congress, which took place in August 1897 in Basel, Switzerland. The goals of the Zionist movement were set out in the Basel Program. Operating under the aegis of the WZO are organizations that define themselves as Zionist, such as WIZO, Hadassah, B'nai B'rith, Maccabi, the International Sephardic Federation, the World Union of Jewish Students (WUJS), and more. The Jewish Agency is a parallel organisation, with goals, attributes and leadership closely intertwined with those of the Zionist Organization during the years before the establishment of the State of Israel, and to varying degrees after that. Significant changes to the statutes of bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Leumi
Bank Leumi ( he, בנק לאומי, lit. ''National Bank''; ar, بنك لئومي) is an Israeli bank. It was founded on February 27, 1902, in Jaffa as the ''Anglo Palestine Company'' as subsidiary of the Jewish Colonial Trust (Jüdische Kolonialbank) Limited formed before in London by members of the Zionist movement to promote the industry, construction, agriculture, and infrastructure of the land hoped to ultimately become Israel. Today, Bank Leumi is Israel's largest bank (by total assets as of 2015), with overseas offices in Luxembourg, US, Switzerland, the UK, Mexico, Uruguay, Romania, Jersey, and China. Though nationalized in 1981, now Bank Leumi is mainly in private hands, with the government as the largest single shareholder, with 14.8% of the stock (as of June 2006). The other major shareholders are Shlomo Eliyahu and Branea Invest, which each hold 10% of the stock, constituting the control core of the bank. Sixty percent of the bank's stocks are held by the public and t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Stock Crisis (Israel 1983)
The bank stock crisis was a financial crisis that occurred in Israel in 1983, during which the stocks of the four largest banks in Israel collapsed. In previous episodes of share price weakness, the banks bought back their own stocks, creating the appearance of constant demand for the stock, and artificially supporting their values. By October 1983, the banks no longer had the capital to buy back shares and to support the prices causing share prices to collapse. The Tel Aviv Stock Exchange closed for eighteen days beginning October 6, 1983 whilst a recovery plan was implemented and the banks were nationalized. History During the 1970s, Bank Hapoalim, and its manager, Yaakov Levinson, began attempting to control the bank's stock price on the Tel Aviv Stock Exchange by recommending to their customers that they invest in the bank's stocks by fraudulently providing guarantees that the prices of shares in the banks would rise indefinitely. These investments allowed the bank to increase ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Mizrahi-Tefahot
Bank Mizrahi-Tefahot ( he, בנק מזרחי טפחות) is the third-largest bank in Israel. It has around 140 branches. The bank is the largest among Israel's mortgage lenders. History Bank Mizrahi-Tefahot was formed by a merger of Bank Mizrahi HaMeuhad and Bank Tefahot in 2004. Bank Mizrahi was established in 1923 by the Mizrachi movement and later merged with Bank Hapoel HaMizrachi to form Bank Mizrahi HaMeuhad (United Mizrachi Bank). In November 2017, Mizrahi Tehafot Bank agreed to buy Union Bank of Israel for US$400 million, thereby consolidating its position as the third largest Israeli bank. On 12 February 2020, Bank Mizrahi-Tefahot was listed on database of 112 companies compiled by the United Nations implicated in helping to further Israeli settlement activity in the West Bank and Golan Heights, an activity considered illegal under international law. On 5 July 2021, Norway's largest pension fund KLP said it would divest from Bank Mizrahi-Tefahot, alongside 15 ot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Israel Discount Bank
Israel Discount Bank, Ltd. is a retail bank, commercial bank, private bank and financial services company headquartered in Tel Aviv with 112 branches throughout Israel. Discount Bank is a public company traded on the Tel Aviv Stock Exchange under the symbol DSCT. It provides personal banking, business banking and private banking products and services through physical branches, online banking and mobile banking. History Discount Bank was established on 5 April 1935, as ''Eretz Yisrael Discount Bank'' Ltd., by Leon Recanati and his partners, Yosef Albo and Moshe Carasso. In its early days, Discount Bank operated out of a small hotel on Nachlat Binyamin Street in Tel Aviv. It later moved to its permanent location at 39 Yehuda Halevi Street. Today, Discount Bank's headquarters are located at the Discount Bank Tower, a 30-story skyscraper located at 23 Yehuda HaLevi Street in Tel Aviv, which completed construction in 2006. Discount Bank derives its name from the word "disconto", di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Israeli New Sheqel
The new Israeli shekel ( he, שֶׁקֶל חָדָשׁ '; ar, شيكل جديد ; currency symbol, sign: Shekel sign, ₪; ISO 4217, ISO code: ILS; abbreviation: NIS), also known as simply the Israeli shekel ( he, שקל ישראלי, ar, شيكل إسرائيلي), is the currency of Israel and is also used as a legal tender in the Palestinian territories of the West Bank and the Gaza Strip. The new shekel is divided into 100 Israeli agora, agorot. The new shekel has been in use since 1 January 1986, when it replaced the hyperinflation, hyperinflated Old Israeli shekel, old shekel at a ratio of 1000:1. The currency sign for the new shekel is a combination of the first Hebrew letters of the words ''shekel'' () and ''ẖadash'' () (new). When the shekel sign is unavailable the abbreviation ''NIS'' ( and ) is used. History The origin of the name "shekel" () is from the ancient Biblical currency by the same name. An early Biblical reference is Abraham being reported to pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Hapoalim
Bank Hapoalim ( he, בנק הפועלים lit. ''The Workers' Bank'') is one of Israel's largest banks. History The bank was established in 1921 by the ''Histadrut'', the Israeli trade union congress (lit. "General Federation of Laborers in the Land of Israel") and the Zionist Organisation. The bank was owned by the ''Histadrut'' until 1983, when it was nationalized following the Bank Stock Crisis. The bank was held by the Israeli government until 1996 when it was sold to a group of investors led by Ted Arison. The bank has a significant presence in global financial markets. In Israel, it has over 600 ATMs (automated teller machines), 250 bank branches, 7 regional business centers, 22 business branches and industry desks for major corporate customers. The bank's stock is traded on the Tel Aviv Stock Exchange. At the end of 2015, the bank had 11,930 employees worldwide. It is controlled by Arison Holdings, owned by Shari Arison. Arison Holdings owns a total of 15.74 per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First International Bank Of Israel
The First International Bank of Israel ( he, הבנק הבינלאומי, translit=HaBank HaBeinleumi) is an Israel-based bank. Its commercial base consists primarily of large corporate clients as well as end-market consumers.First International Bank of Israel (FIBI) - Profile - Dun's 100 Dun & Bradstreet History First International Bank of Israel was founded in the early 1970s when then Israeli Finance Minister approved the merger of several smaller banks into the former. |
Bank Of Israel
The Bank of Israel ( he, בנק ישראל, ar, بنك إسرائيل) is the central bank of Israel. The bank's headquarters is located in Kiryat HaMemshala in Jerusalem with a branch office in Tel Aviv. The current governor is Amir Yaron. The primary objective of the Bank of Israel is to maintain price stability and the stability of the financial system in Israel. It also administers and implements monetary policy in Israel, conducts foreign exchange operations, supervises and regulates the banking system, takes care of the foreign reserves and operations of the financial market infrastructure. The Bank of Israel has, under Article 41 and 44 of its Statute, the exclusive right to issue Israeli Shekel banknotes and coins. History When Israel gained independence in 1948, the power of note issuance was vested with the Anglo-Palestine Bank, which was refounded as Bank Leumi in 1950. Monetary policy and banking supervision remained controlled by the Ministry of Finance. The Ban ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
