For the eighth year of its existence, the Tourist Industry Development Corporation has again paid the 1 percent from earnings which is added to the 6 percent guaranteed by the Israel Government on all TIDC debentures, it was announced here today. The 7 percent tourist debentures provide Israel with a major source of foreign currency to develop its tourist industry.
Debentures are issued in units of $500. While there are many individuals who hold them, the bulk are held by institutional buyers, primarily union pension and welfare funds. To encourage investment, the Government of Israel permits the exchange of State of Israel Bonds for 7 percent debentures at their full accrued value.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
