Bank of Israel

  • Issue: December 2004
  • Designer: Einat Lida
  • Stamp Size: 40 mm x 30.8 mm
  • Plate no.: 580 (No phosphor bar)
  • Sheet of 15 stamps Tabs: 5
  • Printers: S. B. PRINTING LTD.
  • Method of printing: offset

The Bank of Israel operates by virtue of the Bank of Israel Law, 5714-1954, which was passed by the Knesset on 24 August 1954 and which went into effect on 1 December in that year.

The Law replaced the Bank Notes Ordinance, 1948, that was enacted after the establishment of the State and that regulated the authority to issue banknotes in a charter between the government and the Anglo-Palestine Bank, which later became Bank Leumi Le-Israel. The Anglo-Palestine Bank was a subsidiary of the Jewish Colonial Trust founded by Dr. Theodor Herzl.

The Bank of Israel started operating on 1 December 1954.

The Bank of Israel, like the central banks of many other advanced countries, acts as an independent entity that fulfills essential functions in the field of economic policy. The following are among its main functions:

The Bank is located in Kiryat Ben-Gurion in Jerusalem, close to the Knesset, the Supreme Court, the Prime Minister's Office and other government Ministries.

Bank of Israel

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