Israeli banks have begun to return the assets of Holocaust victims that have been held for some 70 years. The funds are being transferred to the Holocaust Victims' Assets Restitution Company, which said it would transfer the monies to the survivors and thousands of descendants of Holocaust victims.
In Stage I, NIS 25 million that has been held by Bank HaPoalim, Bank Discount, and in part by Bank Leumi, will be transferred, according to the company. Subsequently, more than NIS 400 million will be released.