CO129-567-10 Companies Amendment Ordinance- draft bill 15-9-1938 - 28-9-1938 — Page 49

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Bankers' Association in suspense and to ruise it again after the lapce of 18 months when the full effects

of the Banking (Amendment) Ordinance, 1337, have been felt.

Formation of n Institute of Bankers in Palestine:

19.

This proposal was also considered by the Banking

Advisory Committee. A resolution to fom en Institute

of Bankers was adopted enc cub. comaiites was appointed

to consider ways and means of giving effect to the

resolution. This scheme was linked with the proposal to

for a B-nkers' Associ:tion and sa e result of the break-

down suffered by the latter scheme, no further progress has

been achieved in the form tion of an Institute of Bonkers.

20.

The establishment of Clearing Houses for Baks:

A proposal to establish a Brokers' Clearing House

in Tel-Aviv, as an experiment, was approved by the Banking

Advizory Committee, and on the initiative of the Angio-

Palestine E-na utd., draft rules and regulations were

prepared. Differences of opinion and opposition to the scheme 300 ppeared. The banks who opposed the scheme

argued :-

(-)

that the volume of cherues cleared daily in

Tel-Aviv aid not justify the establishment

of a clearing house; and that

(2) the scheme dram up by the Anglo-Palestine

Bank was too elaborate and costly.

Efforts by the Exominer of Banks to persuade the

opposing banks to co-operate in s simplified form of

clearing house were unavailing and, for the time being, the proposal to establish clearing houses is also in

abeyance.