CO129-567-10 Companies Amendment Ordinance- draft bill 15-9-1938 - 28-9-1938 — Page 48

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16.

An Advisory Committee consisting of two official members

and eight non-official members was duly appointed. So far

the committee has met twice under the Chairmanship of the

Examiner of Banks. The committee discussed the recommenda-

tions of Mr. Horwill regarding the formation of a Bankers

Association, and Institute of Bankers, the establishment of

a Bankers Clearing House in Tel-Aviv and an Information

Bureau. The Committee also dealt with the matter of the

name of the National Bank of Palestine utd. mentioned in

paragraph 14.

PART II.

OTHER MATTERS ARISING OUT OF MR. F.G. HORWIL'S

REPORT ON THE BANKING SITUATION IN PALESTINE.

17. As a result of the uncertainty regarding the

political future of Palestine consequent on the Report

of the Palestine Royal Commission it has not been considered

opportune to take action on many of Mr. Horwill's recommenda-

tions. In the following paragraphs a brief account is given

of the action taken with a view to implementing certain of

the recommendations.

Formation of a Bankers' Association in Palestine:

18. At its first meeting the Banking Advisory Committee

examined this proposal and approved it in principle.

Subsequently certain of the foreign banks withdrew their

adherence to a Bankers' Association. Efforts to persuade

these bunks to reconsider their decision were unsuccessful

and eventually it was decided to leave the question of the

Bankers'