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Israel National Bank to Offer Shares in U.s.; Opens Dollar Accounts

Shares in the Bank Leumi, Israel’s central bank, will be offered to the American public, Dr. Y. H. Foerder, chairman of the bank’s board, announced at a reception tendered to him at the Israeli Consulate here. He revealed that the bank planned to expand its capital. Israel Consul General Simcha Pratt introduced Dr. Foerder at the reception to a distinguished audience which included leaders from all walks of Jewish life in this country.

The head of Israel’s national bank, who completed a months tour of banks in the major American cities, announced that the Bank Leumi will open special accounts for dollar deposits on which it will pay five percent interest. Dr. Foerder said that relations between the Israeli institution and financial houses in the United States were excellent and that the Bank Leumi was held in high esteem in this country. He was able to arrange for the expansion of credit channels between American banks and his institution, he revealed.

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