The Bank of Israel Extends by Five Years the Period for Converting the Old Banknotes of the New Sheqel Series

2.8.2005
 
The Bank of Israel Extends by Five Years the Period for Converting the Old Banknotes of the New Sheqel Series
 
  The Bank of Israel is extending by five years, to 31 December 2010, the period during which old banknotes of the new sheqel series (Series A), which have ceased to be legal tender, may be converted. When the new banknotes were introduced in 1999 it was decided that the public would be able to convert the old banknotes, free of charge, at the Bank of Israel. Due to the fact that the public is still holding some NIS 250 million of convertible banknotes of the cancelled series, the Bank decided to enable the public to convert these notes for another five years, until 31 December 2010.
  The government approved the proposal put forward by the Bank of Israel, and today the Knesset Finance Committee approved it. The decision will become effective on its publication in Reshumot (the Official Gazette).
  In the light of the considerable quantity of money in the old series still held by the public, the Bank of Israel invites holders of these banknotes to bring them to the Bank of Israel in Jerusalem or to send them by registered mail to the Bank, giving the details of their bank accounts. The Bank of Israel will credit their accounts accordingly.
   
  The mailing address is:
Currency Department
Bank of Israel,
POB 780,
91007 Jerusalem