How many of us remember our grandmothers — even great-grandmothers — working to collect money for Israel Bonds? That’s how far back this the tradition goes, this Jewish dedication to supporting our Jewish nation, the State of Israel.
The Development Corporation for Israel (DCI)/Israel Bonds is celebrating a new record this month, with more than $40 billion in global sales since the birth of the program in 1951, and a $1.127 billion in U.S. sales in 2016 alone.
The announcement comes just weeks after the Moody’s rating agency published a report noting Israel’s performance, pointing to the country’s economic, institutional and fiscal strength.*
Israel bonds are debt securities issued by the government of Israel. Israel Bonds is also the commonly known name of Development Corporation for Israel (DCI), which underwrites the bonds in the United States. DCI is a Financial Industry Regulatory Authority (FINRA) member broker-dealer. The bonds can help preserve capital, diversify personal or corporate investment portfolios, and provide protection from market fluctuations. Israel bonds are versatile securities that currently pay strong rates.
Capital provided through the sale of Israel bonds has helped strengthen every aspect of Israel’s economy, enabling the development of key national infrastructure. Capital accrued through the sale of Israel bonds has enabled cutting-edge innovation that saves lives and changes the world on a daily basis.
“Israel Bonds are both a financial instrument and a fraternal instrument, a bond of brotherhood and sisterhood with the Jewish state, for Jews and non-Jews alike,” Prime Minister Benjamin Netanyahu said in commenting on the milestone. Israeli Finance Minister Moshe Kahlon also praised the program’s achievements
“Since its founding, Israel Bonds has been a cornerstone of Israel’s economy. Crossing the $40 billion mark exemplifies the organization’s dedication to Israel, and the way in which its message of economic support has resonated on a global scale.” Kahlon said that Israel Bonds and its worldwide client base has helped to build every sector of the Israeli economy.
Rony Hizkiyahu, accountant general of Israel’s Finance Ministry, added, “The organization’s long-lasting contribution is yet another example of the decades-long economic partnership between the diaspora community and Israel.”
Israel Maimon, who began his tenure as Israel Bonds’ new president and CEO this fall, commented, “Israel Bonds’ historic sales clearly show that throughout generations, the idea of demonstrating confidence in Israel through investing in Israel has touched a response chord with individuals from all walks of life.”
*Israel Bonds are not rated