One of the largest banks in Israel.Leumi Bank provides financing for the construction of settlement housing projects in occupied territory. The bank provided financial support for 78 housing units in six buildings in Har Homa that were constructed by Heftziba.
One of the largest banks in Israel.
Leumi Bank provides financing for the construction of settlement housing projects in occupied territory. The bank provided financial support for 78 housing units in six buildings in Har Homa that were constructed by Heftziba.
The bank also provides loans and financial services to settlement authorities. Together with Hapoalim Bank, it manages the funds of Clal finance and the Jerusalem equity portfolio (owned by the settlement of Efrat). The Alfei Manashe settlement opened accounts for education and development funds in Leumi Bank, the Ma'ale Adumim settlement signed an investment consultant agreement with the bank, and the Kiryat Arba settlement's property taxes are saved in Leumi Bank.
The bank finances the Jerusalem light rail project, which connects the settlement neighborhoods around Jerusalem with the city center.
Through its subsidiary Leumi Mortgage Bank (100%), the bank provides financing for settlement home buyers. For instance, a sign in the settlement of Tzofim says that special offers for mortgages by Leumi Mortgage Bank are available for private construction in the Tzofim View (Nofei Zufim) Project.
The bank also supplies mortgages for home buyers in the settlements of Ariel, Beitar Illit and Katzrin in the Golan Heights.
The bank benefits from access to the Palestinian economy as a captive market.
The bank has branches in the following West Bank settlements: Ma'ale Adumim, Oranit, Pisgat Ze'ev, and Kiryat Arba; in the settlement neighborhoods of Ramot and Gilo in East Jerusalem, and in Katzrin in the Golan Heights.
Leumi Mortgage Bank has a branch in the Ramat Eshkol settlement neighborhood in East Jerusalem.
Click here to read a full report from Who Profits, and here for a recent update on the involvement of the Israeli banks in the financing of the occupation.