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Rumania Exempts J.D.C. Credit Cooperatives from Decree Dissolving All Banks

November 17, 1948
See Original Daily Bulletin From This Date

The Rumanian Government has notified all credit cooperatives established in this country by the Joint Distribution Committee that they may continue with their regular programs. The notification was contained in a message stating that the cooperatives were not affected by a decree of last August 13 dissolving all banks and private credit institutions in Rumania.

Dr. E. Costiner, manager of the Rumanian office of the J.D.C., and a representative of the Jewish Democratic Committee were informed of this decision at a talk with officials of the National Institute of Cooperatives. Dr. Costinor, however, asserted that henceforth cooperatives will not be permitted to extend credit to businessmen.

(The United Press reported today from Bucharest that the Union of Rumanian Jews, a forty-year-old organization devoted to fighting anti-Semitism, has voted to disband itself.)

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