A new co-operative investment institution, the Palestine Cooperative Investment Trust, Ltd., has been organized in London to promote the investment of funds in the Central Co-operative institutions in Palestine.
The Society, which is domiciled in London, whence it will conduct all activities, invests funds in fixed rates securities in various central co-operative institutions in Palestine, with the additional guarantee of the Palestine Workers’ Bank, which will act as the advisory agent of the Trust in Palestine. The investments are arranged so that funds will be available for loans to shareholders up to 75 per cent against the shares of the Trust, and the Trust expects to pay shareholders a dividend of 5 percent free of income tax. All the officers of the trust are serving in an honorary capacity.
Since the formation of the Trust £2,500 of shares have been taken up. The trust is arranging to participate in the financing of a modern central dairy, butter and cheese factory, in the Valley of Jezreel.
Dr. M. Sorsby is chairman of the #rust, I. Lush, Vice-Chairman, and N. Barou, Managing Director. Berl Locker, member of the Jewish Agency Executive, is a member of the Board of Directors.
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