Deutsche-Palastina Bank

deutsche palastina-bankThe bank was founded in 1897 with the support of the German Ministry of Foreign Affairs. Its aim was supporting German interests in the Middle East and backing the German settlers who began moving to the Land of Israel towards the end of the 19th century and even more so as of 1904, at the time of the Second Aliyah. The permit for its establishment was granted   after considerable pressure exerted by the German ambassador to the Ottoman Empire.

In May 1902, Dr.  Theodore Herzl met in Berlin with the CEO of Deutsche-Palestina Bank and offered to purchase it, so as to use it as a basis for the activities of the Zionist Movement in  the Land of Israel. The offer was not realized, and in that same year, the Anglo Palestine Bank was founded under the ownership of the Zionist Movement.

The bank blended well with the local economy at the end of the Ottoman period, and  managed to handle the other foreign banks of that period: the Imperial Ottoman Bank,  Credit Lyonnais, the Agro-Ottoman Bank, as well as the Jewish Jerusalem-based Valero Bank  and Anglo-Palestine Company (APC). In 1914, the bank was acquired by the Deutsche Orient  Bank. It was liquidated in 1921 by the British Mandate Government, as Custodian of Enemy  Property of the defeated Germany.

(From Barlev collection of Securities Certificates)

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