Israel’s official gazette today published a decree ordering Israeli citizens who hold foreign securities payable in American or Canadian dollars to turn them in for conversion to Israel pounds or government bonds within a week. The American and Canadian accurities are to be turned over to the Angle-Palestine Bank, now known as the Israel National Bank.
The amount of securities in this category held by people in Israel is estimated at about $10,000,000. In explaining the decree, Finance Minister Kaplan told the Israel Parliament today; “It is only natural to ask Israel citizens to sacrifice, when aid from abroad is solicited.”
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