After the Nazis came into power in Germany at the end of January 1933, many middle class Jews from Germany made aliyah, influencing trade and the Jewish economy in the Land of Israel. In that year alone, 16 new commercial banks were opened, and in 1934 – 14 more. Bank of Tel Aviv was founded in November 1933 with minimal share capital, PP 2,000, by two traders, two housewives, a bookkeeper and a clerk. It was typical of most banks during this period: minimal share capital and a single branch, at the heart of Tel Aviv.
In 1938, a British Banks Examiner recommended to limit the activity of banks In the Land of Israel with equity capital lower than PP 25,000 and prevent the establishment of banks with even lower equity capital. As a result, many banks were forced to close down, with the Bank of Tel Aviv among them in April 1938 The certificate shows that its issuer was unpretentious. As opposed to certificates issued by other banks, which were issued at the same time featuring drawings in the spirit of Zionism and development of the Land of Israel, the design of this certificate is minimalist and functional. This certificate was apparently printed in a small printing house which did not specialize in printing securities.
(From Barlev collection of Securities Certificates)
