The committee's report, according to Globes newspaper, states that half of these accounts were opened at what is now Bank Leumi, but that the bank no longer holds any of them. Bank Leumi claims that those accounts, belonging to Jews from Germany, its allies, and occupied countries, were transferred to the British Mandate Custodian of Enemy Property, under Mandatory law.
Israel's Custodian-General now holds almost all of the 4,500 accounts, with only a few still at banks such as Barclay's (now Mercantile Discount) and United Mizrahi.
The committee, chaired by MK Colette Avital (Labor), is on the verge of submitting its final report, after having received recommendations from a consultancy committee headed by Adv. Tzvi Barak. The report and its recommendations will be the basis for proposed Knesset legislation. The committee will reportedly recommend that the banks bear financial responsibility for the period of time between the opening of the accounts and their transfer to the British Mandate Custodian of Enemy Property.
In addition, heirs of the account-holders, if found, should receive the accounts' deposits, plus linkage and 4% annual interest. "On the basis of this formula, the aggregate real value of the 4,500 accounts is several hundred million shekels, of which the state will have to pay an estimated 55-60%," reported Globes, adding that the heirs to most of the accounts could be found.
Israel's Custodian-General now holds almost all of the 4,500 accounts, with only a few still at banks such as Barclay's (now Mercantile Discount) and United Mizrahi.
The committee, chaired by MK Colette Avital (Labor), is on the verge of submitting its final report, after having received recommendations from a consultancy committee headed by Adv. Tzvi Barak. The report and its recommendations will be the basis for proposed Knesset legislation. The committee will reportedly recommend that the banks bear financial responsibility for the period of time between the opening of the accounts and their transfer to the British Mandate Custodian of Enemy Property.
In addition, heirs of the account-holders, if found, should receive the accounts' deposits, plus linkage and 4% annual interest. "On the basis of this formula, the aggregate real value of the 4,500 accounts is several hundred million shekels, of which the state will have to pay an estimated 55-60%," reported Globes, adding that the heirs to most of the accounts could be found.