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Seek to Coordinate Palestine Credit Groups

January 9, 1929
See Original Daily Bulletin From This Date

The Anglo-Palestine Company has called a conference here of representatives of the Zionist Executive, the Pica, Palestine Jewish Colonization Association, the Manufacturers ‘Association, the Workers’ Bank, and the Palestine Economic Corporation. Mr. Hoofien, manager of the Anglo-Palestine Company, was in the chair.

The conference established that the participating institutions cover all the requirements in regard to industrial credits, but they are prepared to provide more means if necessary. It has been decided to hold further conferences for the purpose of co-ordination.

A meeting of the Jewish banks and other Palestine institutions extending industrial credits was held in September on the initiative of the Zionist Executive, at which it was decided to coordinate their activities. It was understood that this action was a prelude to the establishment of a Palestine Industrial Bank, on the lines proposed in the Report of the Joint Palestine Survey Commission, which suggested the consolidation of the existing credit institutions in Palestine or their incorporation into a large Loan and Trading Corporation with a suggested capital of #163;1,000,000.

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