Bank Otsar HaHayal () is an Israeli
bank
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
.
History
British Mandate era
Otsar HaHayal was founded in 1946 by the
British mandatory authorities to provide banking services to Jewish veterans of the British armed forces. It later provided these services to
Israel Defense Forces
The Israel Defense Forces (IDF; , ), alternatively referred to by the Hebrew-language acronym (), is the national military of the State of Israel. It consists of three service branches: the Israeli Ground Forces, the Israeli Air Force, and ...
veterans and defense sector employees, who also became part owners of the bank.
State of Israel
In 1972, the bank opened up to the general public, although it still largely kept its association with military assets. It was purchased by
Bank Hapoalim
Bank Hapoalim ( lit. ''The Workers' Bank'') is one of the largest banks in Israel, established in 1921. The bank offers a broad range of financial services to retail, corporate, and institutional customers, with a focus on retail banking services. ...
in 1977. By 1996, Otsar HaHayal completely transformed into a commercial public bank.
On January 24, 2006,
Bank Hapoalim
Bank Hapoalim ( lit. ''The Workers' Bank'') is one of the largest banks in Israel, established in 1921. The bank offers a broad range of financial services to retail, corporate, and institutional customers, with a focus on retail banking services. ...
's share of the bank, 66%, was sold for 703 million
NIS, approximately 185% of Otsar Ha-Hayal's estimated worth, to the
First International Bank of Israel
The First International Bank of Israel () is an Israel-based bank. Its commercial base consists primarily of large corporate clients as well as end-market consumers.[United Nations
The United Nations (UN) is the Earth, global intergovernmental organization established by the signing of the Charter of the United Nations, UN Charter on 26 June 1945 with the stated purpose of maintaining international peace and internationa ...]
published a
database
In computing, a database is an organized collection of data or a type of data store based on the use of a database management system (DBMS), the software that interacts with end users, applications, and the database itself to capture and a ...
of companies doing business related in the
West Bank
The West Bank is located on the western bank of the Jordan River and is the larger of the two Palestinian territories (the other being the Gaza Strip) that make up the State of Palestine. A landlocked territory near the coast of the Mediter ...
, including
East Jerusalem
East Jerusalem (, ; , ) is the portion of Jerusalem that was Jordanian annexation of the West Bank, held by Jordan after the 1948 Arab–Israeli War, as opposed to West Jerusalem, which was held by Israel. Captured and occupied in 1967, th ...
, as well as in the
Golan Heights
The Golan Heights, or simply the Golan, is a basaltic plateau at the southwest corner of Syria. It is bordered by the Yarmouk River in the south, the Sea of Galilee and Hula Valley in the west, the Anti-Lebanon mountains with Mount Hermon in t ...
.
Bank Otsar Ha-Hayal was listed on the database on account of its activities in
Israeli settlement
Israeli settlements, also called Israeli colonies, are the civilian communities built by Israel throughout the Israeli-occupied territories. They are populated by Israeli citizens, almost exclusively of Israeli Jews, Jewish identity or ethni ...
s in these territories.
See also
*
Economy of Israel
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with ...
*
Banking in Israel
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
As ba ...
References
External links
*
{{Authority control
Otsar HaHayal