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American Trading Group to Open New Bank in Israel Next Month

September 13, 1956
See Original Daily Bulletin From This Date

AMPAL-American Israel Trading Corporation will open a new bank in Israel next month with a capitalization of 1,000,000 Israeli pounds, Abraham Dickenstein, president of AMPAL, announced here today prior to his departure for the United States.

In a review of his company’s investments in the Jewish State, Mr. Dickenstein said that it had already invested $6,000,000 in oil companies and planned to explore for oil in the Heletz and other promising regions next year. Since its establishment, AMPAL has invested $160,000,000 in Israeli enterprises, Mr. Dickenstein revealed.

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