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Bejski Commission
The Bejski Commission ( he, ועדת בייסקי) was a National Commission of Inquiry established by the Israeli government on January 7, 1985. Headed by the Supreme Court justice Moshe Bejski, its remit was to examine events surrounding the 1983 Tel Aviv stock market crash, which led to a financial crisis and the nationalization of most of Israel's major banks. It issued a report on April 16, 1986, which concluded that major Israeli banks had been rigging the price of bank shares over a long period and called for the dismissal or resignation of many of the heads of the Israeli banking system. Moshe Mendlelbaum, then governor of the Bank of Israel, resigned; Ernst Jephet of Bank Leumi retired with a $5 million agreement; Rafael Recanti refused to resign as head of the Discount Bank, threatening to provoke a banking crisis by withdrawing deposits from the Bank of Israel.''Middle East International'', issue 278, page 3. Peretz Kidron Peretz Kidron (29 July 1933 – 6 November 20 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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] |
Moshe Bejski
Moshe Bejski (, 29 December 1921 – 6 March 2007) was a Polish-born Israeli Supreme Court Justice and President of Yad Vashem's Righteous Among the Nations Commission. After surviving the Holocaust with the help of Oskar Schindler, Bejski immigrated to Israel. In 1961, he testified about his experiences during the Holocaust during the trial of Adolf Eichmann. He served on the Tel Aviv-Yafo district court from 1968 to 1979 and was appointed to the Supreme Court of Israel, where he served from 1979 to 1991. As President of the Righteous Commission from 1975 to 1991, Bejski helped honor thousands of Holocaust rescuers. He also headed the Bejski Commission in the aftermath of the 1983 Israel bank stock crisis, which led to the nationalization of most of Israel's major banks. Life Childhood in Poland Moshe Bejski was born in the village of Działoszyce, near Kraków, Poland, on 29 December 1920. During his youth, he joined a Zionist organization that organized the move of young ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1983 Israel Bank Stock Crisis
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] |
Nationalization
Nationalization (nationalisation in British English) is the process of transforming privately-owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization usually refers to private assets or to assets owned by lower levels of government (such as municipalities) being transferred to the state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization. Industries often subject to nationalization include the commanding heights of the economy – telecommunications, electric power, fossil fuels, railways, airlines, iron ore, media, postal services, banks, and water – though, in many jurisdictions, many such entities have no history of private ownership. Nationalization may occur with or without financial compensation to the former owners. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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] |
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] |
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] |
Peretz Kidron
Peretz Kidron (29 July 1933 – 6 November 2011) was an Israeli writer, journalist and translator. Biography He was born in Vienna, the son of Sara and Herman Kirchenbaum aywho were devoted Zionists and supporters of the Jewish state. His family escaped to Great Britain in 1938 following the annexation of Austria into Nazi Germany. After completing his secondary education in Britain he emigrated to Israel, where he lived on and off in Kibbutz Zikim for about 15 years. Both of his children were born in the kibbutz. During this period he was sent by the kibbutz to the UK as a youth leader for the Zionist leftist youth movement Hashomer Hatzair, to prepare and bring Jewish youth to migrate to Israel. In the early 1970s, he graduated from Tel-Aviv University in English and translation. From the late 1960s, he became active in the Israeli peace movement. In 1975, he was a founding member of the Israeli Council for Israeli-Palestinian Peace and served on the steering committee of th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
