Bank Otsar HaHayal ( he, בנק אוצר החייל, translation=Soldier's Treasury Bank) is an Israeli

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

History

Otsar HaHayal was founded in 1946 by the British mandatory authorities to provide banking services to Jewish veterans of the British armed forces. It later provided these services to

Israel Defense Forces The Israel Defense Forces (IDF; he, צְבָא הַהֲגָנָה לְיִשְׂרָאֵל , ), alternatively referred to by the Hebrew-language acronym (), is the national military of the Israel, State of Israel. It consists of three servic ...

veterans and defense sector employees, who also became part owners of the bank. In 1972, the bank opened up to the general public, although it still largely kept its association with military assets. It was purchased by

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 ...

in 1977. By 1996, Otsar HaHayal completely transformed into a commercial public bank. On January 24, 2006,

's share of the bank, 66%, was sold for 703 million

NIS Nis, Niš, NiS or NIS may refer to: Places * Niš, a city in Serbia * Nis, Iran, a village * Ness, Lewis ( gd, Nis, links=no), a village in the Outer Hebrides islands Businesses and organizations * Naftna Industrija Srbije, Petroleum Industry o ...

, approximately 185% of Otsar Ha-Hayal's estimated worth, to the

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.

Criticism

Involvement in Israeli settlements

On 12 February 2020, the

United Nations The United Nations (UN) is an intergovernmental organization whose stated purposes are to maintain international peace and international security, security, develop friendly relations among nations, achieve international cooperation, and be ...

published a

database In computing, a database is an organized collection of data stored and accessed electronically. Small databases can be stored on a file system, while large databases are hosted on computer clusters or cloud storage. The design of databases sp ...

of companies doing business related in the

West Bank The West Bank ( ar, الضفة الغربية, translit=aḍ-Ḍiffah al-Ġarbiyyah; he, הגדה המערבית, translit=HaGadah HaMaʽaravit, also referred to by some Israelis as ) is a landlocked territory near the coast of the Mediter ...

, including

East Jerusalem East Jerusalem (, ; , ) is the sector of Jerusalem that was held by Jordan during the 1948 Arab–Israeli War, as opposed to the western sector of the city, West Jerusalem, which was held by Israel. Jerusalem was envisaged as a separat ...

, as well as in the

Golan Heights The Golan Heights ( ar, هَضْبَةُ الْجَوْلَانِ, Haḍbatu l-Jawlān or ; he, רמת הגולן, ), or simply the Golan, is a region in the Levant spanning about . The region defined as the Golan Heights differs between di ...

. Bank Otsar Ha-Hayal was listed on the database on account of its activities in

Israeli settlement Israeli settlements, or Israeli colonies, are civilian communities inhabited by Israeli citizens, overwhelmingly of Jewish ethnicity, built on lands occupied by Israel in the 1967 Six-Day War. The international community considers Israeli se ...

s in these territories.

References

External links

* {{Authority control Otsar HaHayal

History

Criticism

Involvement in Israeli settlements

See also

References

External links