Abstract:In 1941, the Banking Ordinance enacted by the High Commissioner of Palestine defined “banking business” as the “business of receiving from the public on current account money which is to be repayable on demand by check, and of making advances to customers”. The most recently enacted Israeli Banking Law (Licensing), 1981 contains a very extensive definition of banking business which includes no less than thirteen types of transactions.This certainly reflects a new legal approach towards the economic reality of … Show more
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