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122-761: Bank Leumi ( Hebrew : בנק לאומי , lit. National Bank ; Arabic : بنك لئومي ) is an Israeli bank . It was founded on February 27, 1902, in Jaffa as the Anglo Palestine Company as subsidiary of the Jewish Colonial Trust (Jüdische Kolonialbank) Limited formed before in London by members of the Zionist movement to promote the industry, construction, agriculture, and infrastructure of the land hoped to ultimately become Israel. Today, Bank Leumi

244-541: A National Unity Government was established to tackle the rampant inflation. In 1985, a comprehensive new plan was adopted - the Economic Stabilization Plan, prepared by treasury officials with the assistance of prominent economists from academia, led by Prof. Michael Bruno, accompanied by renowned economists from abroad including Prof. Stanley Fischer . A significant amendment to the Bank of Israel Law

366-685: A Hebrew form. Medieval Hebrew added 6421 words to (Modern) Hebrew. The approximate number of new lexical items in Israeli is 17,000 (cf. 14,762 in Even-Shoshan 1970 [...]). With the inclusion of foreign and technical terms [...], the total number of Israeli words, including words of biblical, rabbinic and medieval descent, is more than 60,000. In Israel, Modern Hebrew is currently taught in institutions called Ulpanim (singular: Ulpan). There are government-owned, as well as private, Ulpanim offering online courses and face-to-face programs. Modern Hebrew

488-595: A century ago, was fluent enough in this idiom to be able to follow the Mishna Berurah without any trouble." Hebrew has been revived several times as a literary language, most significantly by the Haskalah (Enlightenment) movement of early and mid-19th-century Germany. In the early 19th century, a form of spoken Hebrew had emerged in the markets of Jerusalem between Jews of different linguistic backgrounds to communicate for commercial purposes. This Hebrew dialect

610-661: A corollary Hebrew ceased to function as a spoken language around the same time. Moshe Zvi Segal , Joseph Klausner and Ben Yehuda are notable exceptions to this view. During the latter half of the 20th century, accumulating archaeological evidence and especially linguistic analysis of the Dead Sea Scrolls has disproven that view. The Dead Sea Scrolls, uncovered in 1946–1948 near Qumran revealed ancient Jewish texts overwhelmingly in Hebrew, not Aramaic. The Qumran scrolls indicate that Hebrew texts were readily understandable to

732-441: A decrease in real wages (aimed at reducing local demand, increasing export competitiveness, and preventing severe unemployment growth); high interest rates and stabilization of the exchange rate at the new level for as long as possible; and freezing prices administratively for a limited period. As a result of the plan's implementation, which received full support from the government, inflation dropped to single digits (the amendment to

854-418: A devaluation that did not solve the exposed problems. Following the devaluation and budget difficulties, the treasury shifted to an austere fiscal policy. In 1966, the economy experienced a severe recession, and the Bank of Israel was forced to adapt its policy to such a situation for the first time. Among other things, three private banks collapsed: Bank Alran, Bank Poalei Agudat Israel, and Bank Credit, and

976-579: A distinct style of philosophical Hebrew. This is used in the translations made by the Ibn Tibbon family. (Original Jewish philosophical works were usually written in Arabic. ) Another important influence was Maimonides , who developed a simple style based on Mishnaic Hebrew for use in his law code, the Mishneh Torah . Subsequent rabbinic literature is written in a blend between this style and

1098-594: A gradually accepted movement. It was not, however, until the 1904–1914 Second Aliyah that Hebrew had caught real momentum in Ottoman Palestine with the more highly organized enterprises set forth by the new group of immigrants. When the British Mandate of Palestine recognized Hebrew as one of the country's three official languages (English, Arabic, and Hebrew, in 1922), its new formal status contributed to its diffusion. A constructed modern language with

1220-582: A joint stock company subject to English jurisdiction, framed according to English laws, and under the protection of England". In Herzl's vision, this Company would control virtually all the land in Palestine and would take care of transporting there millions of people within a few years – all, or nearly all, Jews living in the world. It would then take care of all the logistics of settling them in their new country, establishing them in urban and rural environments and getting agriculture, trade and industry going. For

1342-468: A literary language down through the Byzantine period from the 4th century CE. The exact roles of Aramaic and Hebrew remain hotly debated. A trilingual scenario has been proposed for the land of Israel. Hebrew functioned as the local mother tongue with powerful ties to Israel's history, origins and golden age and as the language of Israel's religion; Aramaic functioned as the international language with

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1464-536: A literary language, especially in Spain, as the language of commerce between Jews of different native languages, and as the liturgical language of Judaism, evolving various dialects of literary Medieval Hebrew , until its revival as a spoken language in the late 19th century. In May 2023, Scott Stripling published the finding of what he claims to be the oldest known Hebrew inscription, a curse tablet found at Mount Ebal , dated from around 3200 years ago. The presence of

1586-613: A new law for the Bank of Israel to replace the 1954 law, regulating labor relations with the Treasury concerning salary agreements in the bank, and implementing structural reform in the bank. With the onset of the economic crisis in 2008, Fischer pursued a successful and internationally recognized policy: he adjusted interest rates rapidly (the first in the world to lower and raise interest rates), acquired foreign currency reserves, and purchased government bonds to reduce interest rates for long periods. In 2008, organizational changes were made in

1708-548: A set of dialects evolving out of Late Biblical Hebrew and into Mishnaic Hebrew, thus including elements from both but remaining distinct from either. By the start of the Byzantine Period in the 4th century CE, Classical Hebrew ceased as a regularly spoken language, roughly a century after the publication of the Mishnah, apparently declining since the aftermath of the catastrophic Bar Kokhba revolt around 135 CE. In

1830-668: A spoken language, it continued to be used as a lingua franca among scholars and Jews traveling in foreign countries. After the 2nd century CE when the Roman Empire exiled most of the Jewish population of Jerusalem following the Bar Kokhba revolt , they adapted to the societies in which they found themselves, yet letters, contracts, commerce, science, philosophy, medicine, poetry and laws continued to be written mostly in Hebrew, which adapted by borrowing and inventing terms. After

1952-531: A state bank". In the committee were Eliezer Kaplan , Levi Eshkol and others. The committee sent its secretary to the United States to study the way state banks function as well as advised ask the UN for expert advisors. The committee established the aim for the bank to be the stabilization of the currency, the keeping of high levels of production, employment and earnings. The foreign experts advised to grant

2074-672: A state inquiry claimed 300m NIS was being held in 3,577 dormant accounts. The bank was accused of refusing to cooperate with the investigation by refraining from disclosing information about the large amounts of unclaimed money. In 2011, Bank Leumi acquired Geneva-based Banque Safdie SA for CHF 143m. Bank Leumi merged Banque Safdie with Bank Leumi Switzerland Ltd to form Leumi Private Bank in early 2012. Leumi closed its representative office in Melbourne, Australia in October 2013. In July 2014, Bank Julius Baer announced that it had purchased

2196-576: A supervisor of the banks. In 1978, supervision of foreign currency was transferred from the Ministry of Finance to the Bank of Israel. Subsequently, following a prolonged process of liberalization in the foreign currency market, supervision of foreign currency was finally abolished in 2003. The Department for Supervision of Foreign Currency became the "Department of Market Operations in Foreign Currency," which dealt with monitoring and researching

2318-472: A truly Semitic vocabulary and written appearance, although often European in phonology , was to take its place among the current languages of the nations. While many saw his work as fanciful or even blasphemous (because Hebrew was the holy language of the Torah and therefore some thought that it should not be used to discuss everyday matters), many soon understood the need for a common language amongst Jews of

2440-558: A vernacular in Judea until it was displaced by Aramaic, probably in the 3rd century CE. Certain Sadducee , Pharisee , Scribe , Hermit, Zealot and Priest classes maintained an insistence on Hebrew, and all Jews maintained their identity with Hebrew songs and simple quotations from Hebrew texts. While there is no doubt that at a certain point, Hebrew was displaced as the everyday spoken language of most Jews, and that its chief successor in

2562-539: Is Israel 's largest bank (by total assets as of 2015), with overseas offices in Luxembourg, US, Switzerland, the UK, Mexico, Uruguay, Romania, Jersey, and China. Though nationalized in 1981, now Bank Leumi is mainly in private hands, with the government as the largest single shareholder, with 14.8% of the stock (as of June 2006). The other major shareholders are Shlomo Eliyahu and Barnea Investments, which each hold 10% of

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2684-518: Is 8198, of which some 2000 are hapax legomena (the number of Biblical Hebrew roots, on which many of these words are based, is 2099). The number of attested Rabbinic Hebrew words is less than 20,000, of which (i) 7879 are Rabbinic par excellence, i.e. they did not appear in the Old Testament (the number of new Rabbinic Hebrew roots is 805); (ii) around 6000 are a subset of Biblical Hebrew; and (iii) several thousand are Aramaic words which can have

2806-567: Is fighting to stop businesses from using only English signs to market their services. In 2012, a Knesset bill for the preservation of the Hebrew language was proposed, which includes the stipulation that all signage in Israel must first and foremost be in Hebrew, as with all speeches by Israeli officials abroad. The bill's author, MK Akram Hasson , stated that the bill was proposed as a response to Hebrew "losing its prestige" and children incorporating more English words into their vocabulary. Hebrew

2928-527: Is one of several languages for which the constitution of South Africa calls to be respected in their use for religious purposes. Also, Hebrew is an official national minority language in Poland , since 6 January 2005. Hamas has made Hebrew a compulsory language taught in schools in the Gaza Strip. Bank of Israel The primary objective of the Bank of Israel is to maintain stability in prices and

3050-530: Is the only Canaanite language, as well as one of only two Northwest Semitic languages, with the other being Aramaic , still spoken today. The earliest examples of written Paleo-Hebrew date back to the 10th century BCE. Nearly all of the Hebrew Bible is written in Biblical Hebrew , with much of its present form in the dialect that scholars believe flourished around the 6th century BCE, during

3172-457: Is the primary official language of the State of Israel. As of 2013 , there are about 9 million Hebrew speakers worldwide, of whom 7 million speak it fluently. Currently, 90% of Israeli Jews are proficient in Hebrew, and 70% are highly proficient. Some 60% of Israeli Arabs are also proficient in Hebrew, and 30% report having a higher proficiency in Hebrew than in Arabic. In total, about 53% of

3294-418: Is today a range of between 1 and 3 percent per annum, considered as price stability. Additionally, the bank manages the country's Foreign Exchange Reserves. The bank began operating under the management of its first governor, David Horowitz . The department responsible for issuing banknotes was transferred to the Bank of Israel, which later became the currency department, and the unit for supervising banks from

3416-547: Is used to pronounce the Hebrew Bible; however, properly it should be distinguished from the historical Biblical Hebrew of the 6th century BCE, whose original pronunciation must be reconstructed. Tiberian Hebrew incorporates the scholarship of the Masoretes (from masoret meaning "tradition"), who added vowel points and grammar points to the Hebrew letters to preserve much earlier features of Hebrew, for use in chanting

3538-650: The Chayei Adam in Hebrew, as opposed to Yiddish , as a guide to Halacha for the " average 17-year-old" (Ibid. Introduction 1). Similarly, Rabbi Yisrael Meir Kagan 's purpose in writing the Mishnah Berurah was to "produce a work that could be studied daily so that Jews might know the proper procedures to follow minute by minute". The work was nevertheless written in Talmudic Hebrew and Aramaic, since, "the ordinary Jew [of Eastern Europe] of

3660-674: The Afroasiatic language family . A regional dialect of the Canaanite languages , it was natively spoken by the Israelites and remained in regular use as a first language until after 200 CE and as the liturgical language of Judaism (since the Second Temple period ) and Samaritanism . The language was revived as a spoken language in the 19th century, and is the only successful large-scale example of linguistic revival . It

3782-727: The Ancient Greek Ἑβραῖος ( hebraîos ) and Aramaic 'ibrāy , all ultimately derived from Biblical Hebrew Ivri ( עברי ), one of several names for the Israelite ( Jewish and Samaritan ) people ( Hebrews ). It is traditionally understood to be an adjective based on the name of Abraham 's ancestor, Eber , mentioned in Genesis 10:21 . The name is believed to be based on the Semitic root ʕ-b-r ( ע־ב־ר ‎), meaning "beyond", "other side", "across"; interpretations of

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3904-612: The Arab Citizens of Israel in the north of the country. Ai Bank has 35 branches located in Israel's northern and Triangle regions. The Government of Israel nationalized Bank Leumi in 1983, as a result of the Bank Stock Crisis . In 2007, the bank denied being in possession of funds deposited by Jews who were murdered in the Holocaust. Although denying any wrongdoing, in 2011 the bank agreed to pay out 130m NIS after

4026-547: The Canaanite group of languages . Canaanite languages are a branch of the Northwest Semitic family of languages. Hebrew was the spoken language in the Iron Age kingdoms of Israel and Judah during the period from about 1200 to 586 BCE. Epigraphic evidence from this period confirms the widely accepted view that the earlier layers of biblical literature reflect the language used in these kingdoms. Furthermore,

4148-572: The Gospel of Matthew . (See the Hebrew Gospel hypothesis or Language of Jesus for more details on Hebrew and Aramaic in the gospels.) The term "Mishnaic Hebrew" generally refers to the Hebrew dialects found in the Talmud , excepting quotations from the Hebrew Bible. The dialects organize into Mishnaic Hebrew (also called Tannaitic Hebrew, Early Rabbinic Hebrew, or Mishnaic Hebrew I), which

4270-463: The Knesset passed the Bank of Israel Law, which ceded the currency issuing and regulatory functions of the Ministry of Finance to the newly formed bank. Control over foreign currency exchange was not given to the bank until 1978. The bank was made completely independent in 1985 and since 1992, the bank manages its monetary policy so as to meet the inflation target set by the Israeli government - which

4392-495: The Latin alphabet of ancient Rome . The Gezer calendar is written without any vowels , and it does not use consonants to imply vowels even in the places in which later Hebrew spelling requires them. Numerous older tablets have been found in the region with similar scripts written in other Semitic languages, for example, Proto-Sinaitic . It is believed that the original shapes of the script go back to Egyptian hieroglyphs , though

4514-682: The Maccabean Revolt (167–160 BCE) and the emergence of the Hasmonean kingdom , the Great Jewish Revolt (66–73 CE), and the Bar Kokhba revolt (132–135 CE). The nationalist significance of Hebrew manifested in various ways throughout this period. Michael Owen Wise notes that "Beginning with the time of the Hasmonean revolt [...] Hebrew came to the fore in an expression akin to modern nationalism. A form of classical Hebrew

4636-462: The Ministry of Finance , which also became a department in the bank. Over time, additional units and departments were established in the bank, including the monetary department, the foreign currency supervision department (transferred to the bank in 1978), the foreign currency department, and the research department. One of the factors that led to the accelerated decision to establish a central bank

4758-536: The Second Aliyah , it replaced a score of languages spoken by Jews at that time. Those languages were Jewish dialects of local languages, including Judaeo-Spanish (also called "Judezmo" and "Ladino"), Yiddish , Judeo-Arabic and Bukhori (Tajiki), or local languages spoken in the Jewish diaspora such as Russian , Persian and Arabic . The major result of the literary work of the Hebrew intellectuals along

4880-652: The West Bank , including East Jerusalem , as well as in the occupied Golan Heights . These settlements are considered illegal under international law . Bank Leumi was listed on the database on account of its "provision of services and utilities supporting the maintenance and existence of settlements" and "banking and financial operations helping to develop, expand or maintain settlements and their activities" in these occupied territories. On 5 July 2021, Norway 's largest pension fund KLP said it would divest from Bank Leumi together with 15 other business entities implicated in

5002-462: The literary and liturgical language into everyday spoken language . However, his brand of Hebrew followed norms that had been replaced in Eastern Europe by different grammar and style, in the writings of people like Ahad Ha'am and others. His organizational efforts and involvement with the establishment of schools and the writing of textbooks pushed the vernacularization activity into

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5124-558: The official language of the State of Israel . Estimates of worldwide usage include five million speakers in 1998, and over nine million people in 2013. After Israel, the United States has the largest Hebrew-speaking population, with approximately 220,000 fluent speakers (see Israeli Americans and Jewish Americans ). Modern Hebrew is the official language of the State of Israel, while pre-revival forms of Hebrew are used for prayer or study in Jewish and Samaritan communities around

5246-543: The ostraca found near Lachish , which describe events preceding the final capture of Jerusalem by Nebuchadnezzar and the Babylonian captivity of 586 BCE. In its widest sense, Biblical Hebrew refers to the spoken language of ancient Israel flourishing between c.  1000 BCE and c.  400 CE . It comprises several evolving and overlapping dialects. The phases of Classical Hebrew are often named after important literary works associated with them. Sometimes

5368-607: The 10th century BCE at the beginning of the Monarchic period , the traditional time of the reign of David and Solomon . Classified as Archaic Biblical Hebrew , the calendar presents a list of seasons and related agricultural activities. The Gezer calendar (named after the city in whose proximity it was found) is written in an old Semitic script, akin to the Phoenician one that, through the Greeks and Etruscans , later became

5490-555: The 1980s in the USSR , Hebrew studies reappeared due to people struggling for permission to go to Israel ( refuseniks ). Several of the teachers were imprisoned, e.g. Yosef Begun , Ephraim Kholmyansky , Yevgeny Korostyshevsky and others responsible for a Hebrew learning network connecting many cities of the USSR. Standard Hebrew, as developed by Eliezer Ben-Yehuda, was based on Mishnaic spelling and Sephardi Hebrew pronunciation. However,

5612-611: The 19th century was a lexical modernization of Hebrew. New words and expressions were adapted as neologisms from the large corpus of Hebrew writings since the Hebrew Bible, or borrowed from Arabic (mainly by Ben-Yehuda) and older Aramaic and Latin. Many new words were either borrowed from or coined after European languages, especially English, Russian, German, and French. Modern Hebrew became an official language in British-ruled Palestine in 1921 (along with English and Arabic), and then in 1948 became an official language of

5734-719: The Ahuzat Bayit association which built the first neighborhood in Tel Aviv . During World War I , the Ottoman government declared the bank, which was registered in England, to be an enemy institution and moved to shut it down and confiscate its cash. After World War I, its operations expanded. In 1932, the main branch moved from Jaffa to Jerusalem. During World War II , the Anglo-Palestine Bank helped to finance

5856-466: The Anglo-Palestine Bank, a subsidiary formed in 1902. The bank opened its first branch in Jaffa in 1903 under the management of Zalman David Levontin . Early transactions included land purchase, imports and obtaining concessions. Branches were opened in Jerusalem , Beirut , Hebron , Safed , Haifa , Tiberias and Gaza . The Anglo-Palestine Bank offered farmers long-term loans and provided loans to

5978-766: The Aramaized Rabbinic Hebrew of the Talmud. Hebrew persevered through the ages as the main language for written purposes by all Jewish communities around the world for a large range of uses—not only liturgy, but also poetry, philosophy, science and medicine, commerce, daily correspondence and contracts. There have been many deviations from this generalization such as Bar Kokhba 's letters to his lieutenants, which were mostly in Aramaic, and Maimonides' writings, which were mostly in Arabic; but overall, Hebrew did not cease to be used for such purposes. For example,

6100-521: The Bank intervened for the first time to protect depositors using its authority under Section 44 of the Bank of Israel Law. In 1971, Moshe Zanbar replaced Horowitz was as governor of the central bank. The Bank of Israel faced unprecedented situations, such as rampant inflation (14% in 1972) and increased public spending following the Six-Day War . The Yom Kippur War and the ensuing energy crisis exacerbated economic problems, inflation, deficits in

6222-498: The Bank of Israel peaked. The background to the dispute was the Basic Budget Law, enacted with the stabilization plan in 1985, which stipulated that public bodies—including the bank—would be subject to this law. The Treasury alleged that the salary agreements in the Bank of Israel deviated from the norm in public service. In 2005, Stanley Fischer was appointed as the eighth governor. Fischer declared his intention to introduce

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6344-500: The Bank of Israel was ranked first among central banks for its efficient functioning, according to IMD's World Competitiveness Yearbook . In March 2010, the Knesset approved a new Bank of Israel Law which took effect on 1 June 2010. The new law defines the goals of the bank and gives the bank independence in determining its policy tools and the way of implementing them. The law changed the framework in which major decisions are made at

6466-486: The Bank of Israel. Decisions regarding the interest rate and monetary policy, in general, are made by a Monetary Committee, while the managerial decisions are approved by a Supervisory Council. This brings the Bank of Israel more in line with the decision making procedures of other financial institutions. In 2013, Dr. Karnit Flug was appointed as the governor of the bank. She continued her predecessors' policies both in deepening monetary control and in integrating Israel into

6588-583: The Bank. In October 2017, Danish pension firm Sampension banned investment in Leumi alongside three other companies operating in illegal Israeli settlements in the West Bank , including Bank Hapoalim , Israeli telecoms firm Bezeq and German firm Heidelberg Cement . On 12 February 2020, the United Nations published a database of 112 companies helping to further Israeli settlement activity in

6710-503: The British Mandate who at the turn of the 20th century were arriving in large numbers from diverse countries and speaking different languages. A Committee of the Hebrew Language was established. After the establishment of Israel, it became the Academy of the Hebrew Language . The results of Ben-Yehuda's lexicographical work were published in a dictionary ( The Complete Dictionary of Ancient and Modern Hebrew , Ben-Yehuda Dictionary ). The seeds of Ben-Yehuda's work fell on fertile ground, and by

6832-417: The German Jewish architect Leopold Krakauer . It was built in 1935 as a private home, and was renovated in 2007 to restore the original facade. Hebrew language Hebrew ( Hebrew alphabet : עִבְרִית ‎, ʿĪvrīt , pronounced [ ʔivˈʁit ] or [ ʕivˈrit ] ; Samaritan script : ࠏࠨࠁࠬࠓࠪࠉࠕ ‎ ʿÎbrit ) is a Northwest Semitic language within

6954-416: The Great conquered Babylon, he allowed the Jewish people to return from captivity. In time, a local version of Aramaic came to be spoken in Israel alongside Hebrew. By the beginning of the Common Era , Aramaic was the primary colloquial language of Samarian , Babylonian and Galileean Jews, and western and intellectual Jews spoke Greek , but a form of so-called Rabbinic Hebrew continued to be used as

7076-432: The Hebrew name of god , Yahweh, as three letters, Yod-Heh-Vav (YHV), according to the author and his team meant that the tablet is Hebrew and not Canaanite. However, practically all professional archeologists and epigraphers apart from Stripling's team claim that there is no text on this object. In July 2008, Israeli archaeologist Yossi Garfinkel discovered a ceramic shard at Khirbet Qeiyafa that he claimed may be

7198-437: The Hebrew Bible. The Masoretes inherited a biblical text whose letters were considered too sacred to be altered, so their markings were in the form of pointing in and around the letters. The Syriac alphabet , precursor to the Arabic alphabet , also developed vowel pointing systems around this time. The Aleppo Codex , a Hebrew Bible with the Masoretic pointing, was written in the 10th century, likely in Tiberias, and survives into

7320-413: The Herculean tasks envisioned for it, Herzl estimated that the company's capital should be about a thousand million marks (about £50,000,000 or $ 200,000,000). In practice, the Zionist movement was completely unable – either politically or financially – to undertake anything of remotely such dimensions. The actual "Jewish Colonial Trust" – established, indeed, in London – was in effect a small-scale model of

7442-454: The Israeli population speaks Hebrew as a native language, while most of the rest speak it fluently. In 2013 Hebrew was the native language of 49% of Israelis over the age of 20, with Russian , Arabic , French , English , Yiddish and Ladino being the native tongues of most of the rest. Some 26% of immigrants from the former Soviet Union and 12% of Arabs reported speaking Hebrew poorly or not at all. Steps have been taken to keep Hebrew

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7564-417: The Middle East was the closely related Aramaic language, then Greek , scholarly opinions on the exact dating of that shift have changed very much. In the first half of the 20th century, most scholars followed Abraham Geiger and Gustaf Dalman in thinking that Aramaic became a spoken language in the land of Israel as early as the beginning of Israel's Hellenistic period in the 4th century BCE, and that as

7686-449: The Talmud, the Gemara , generally comments on the Mishnah and Baraitot in two forms of Aramaic. Nevertheless, Hebrew survived as a liturgical and literary language in the form of later Amoraic Hebrew, which occasionally appears in the text of the Gemara, particularly in the Jerusalem Talmud and the classical aggadah midrashes . Hebrew was always regarded as the language of Israel's religion, history and national pride, and after it faded as

7808-406: The Talmud, various regional literary dialects of Medieval Hebrew evolved. The most important is Tiberian Hebrew or Masoretic Hebrew, a local dialect of Tiberias in Galilee that became the standard for vocalizing the Hebrew Bible and thus still influences all other regional dialects of Hebrew. This Tiberian Hebrew from the 7th to 10th century CE is sometimes called "Biblical Hebrew" because it

7930-414: The UN report for their links to Israeli settlements in the occupied West Bank. The main branch of Bank Leumi on Jaffa Road, Jerusalem, built during the British Mandate by the German Jewish architect Erich Mendelsohn , has been declared a landmark building. The Bank Leumi branch on the corner of Ramban Street in Jerusalem's Rehavia neighborhood, an example of Bauhaus architecture, was designed by

8052-422: The ability to speak the language and attempted to promote its use. According to the Jerusalem Talmud , Megillah 1:9: "Rebbi Jonathan from Bet Guvrrin said, four languages are appropriate that the world should use them, and they are these: The Foreign Language (Greek) for song, Latin for war, Syriac for elegies, Hebrew for speech. Some are saying, also Assyrian (Hebrew script) for writing." The later section of

8174-411: The above phases of spoken Classical Hebrew are simplified into "Biblical Hebrew" (including several dialects from the 10th century BCE to 2nd century BCE and extant in certain Dead Sea Scrolls) and "Mishnaic Hebrew" (including several dialects from the 3rd century BCE to the 3rd century CE and extant in certain other Dead Sea Scrolls). However, today most Hebrew linguists classify Dead Sea Scroll Hebrew as

8296-401: The absence of significant inflation until the early 1960s. In 1962, due to rising living standards and consumption leading to the danger of inflationary pressures (annual inflation reached 9%), wage increases, and a deficit in the balance of payments, a significant devaluation of the pound occurred in 1962 by Finance Minister Levi Eshkol , from 1.80 pounds to the dollar to 3 pounds to the dollar,

8418-455: The average Jew, and that the language had evolved since Biblical times as spoken languages do. Recent scholarship recognizes that reports of Jews speaking in Aramaic indicate a multilingual society, not necessarily the primary language spoken. Alongside Aramaic, Hebrew co-existed within Israel as a spoken language. Most scholars now date the demise of Hebrew as a spoken language to the end of the Roman period , or about 200 CE. It continued on as

8540-406: The balance of payments, and the pace of devaluations. In July 1974, the Bank of Israel intervened in Israel-British Bank and dismissed its management after criminal irregularities were found in the bank's management. In 1976, Arnon Gafni took office as governor. In the year 1982, Moshe Mendelbaum was appointed governor. As governor he had to deal with the severe economic situation that

8662-415: The bank could prove an effective way to guide the financial markets of the country. In the end it was decided to grant the central bank limited independence, but according to the law it was obligated to cover government expenditure when needed. In 2010, the law was changed and since the Bank of Israel has full independence in setting its monetary policy. The Bank of Israel was founded on 24 August 1954, when

8784-438: The bank of Israel a standing independent from the ministry of finance , in order to avoid political influences on decisions and the handing out of debt to different sectors. It was advised the bank would be managed by committee members representing the various sectors in the Israeli public. The monetary committee of the Knesset preferred that the bank be run by the governor alone who would be under governmental supervision, that way

8906-485: The bank raised hopes for reducing government intervention in the economy and decreasing concentration, although in practice, the result was the opposite – increased government involvement. Some anticipated this development and sought to postpone the establishment of the Bank of Israel, but were unsuccessful. David Horowitz served as the bank's governor for 17 years. His tenure as governor was characterized in its early years by relative economic stability, rapid growth, and

9028-1044: The bank, including the closure of the Foreign Exchange Operations Department (which formed the basis for the Information and Statistics Division), the Monetary Department (part of which was merged with the Foreign Exchange Department to create the Markets Division, and another part with the Research Department to create the Research Division), and the State Loans Administration. The bank's departments were reorganized into divisions. In 2010,

9150-547: The beginning of the 20th century, Hebrew was well on its way to becoming the main language of the Jewish population of both Ottoman and British Palestine. At the time, members of the Old Yishuv and a very few Hasidic sects, most notably those under the auspices of Satmar , refused to speak Hebrew and spoke only Yiddish. In the Soviet Union, the use of Hebrew, along with other Jewish cultural and religious activities,

9272-547: The company envisioned in "Der Judenstaat": its capital a small fraction of the sum envisioned for "The Jewish Company" and its activity limited to transporting and settling small numbers of Jews on whatever limited parcels of land in Palestine the Zionist movement managed to buy. Even so, the "Colonial Trust" had a key role in the actual implementation of the Zionist project, towards eventual creation of Israel. The Jewish Colonial Trust (German: Jüdische Kolonialbank), predecessor to

9394-602: The composition of 1 Maccabees in archaizing Hebrew, Hasmonean coinage under John Hyrcanus (134-104 BCE), and coins from both the Great Revolt and Bar Kokhba Revolt featuring exclusively Hebrew and Palaeo-Hebrew script inscriptions. This deliberate use of Hebrew and Paleo-Hebrew script in official contexts, despite limited literacy, served as a symbol of Jewish nationalism and political independence. The Christian New Testament contains some Semitic place names and quotes. The language of such Semitic glosses (and in general

9516-468: The content of Hebrew inscriptions suggests that the written texts closely mirror the spoken language of that time. Scholars debate the degree to which Hebrew was a spoken vernacular in ancient times following the Babylonian exile when the predominant international language in the region was Old Aramaic . Hebrew was extinct as a colloquial language by late antiquity , but it continued to be used as

9638-568: The dialects of Classical Hebrew that functioned as a living language in the land of Israel. A transitional form of the language occurs in the other works of Tannaitic literature dating from the century beginning with the completion of the Mishnah. These include the halachic Midrashim ( Sifra , Sifre , Mekhilta etc.) and the expanded collection of Mishnah-related material known as the Tosefta . The Talmud contains excerpts from these works, as well as further Tannaitic material not attested elsewhere;

9760-423: The earliest Hebrew writing yet discovered, dating from around 3,000 years ago. Hebrew University archaeologist Amihai Mazar said that the inscription was "proto-Canaanite" but cautioned that "[t]he differentiation between the scripts, and between the languages themselves in that period, remains unclear", and suggested that calling the text Hebrew might be going too far. The Gezer calendar also dates back to

9882-513: The earliest speakers of Modern Hebrew had Yiddish as their native language and often introduced calques from Yiddish and phono-semantic matchings of international words. Despite using Sephardic Hebrew pronunciation as its primary basis, modern Israeli Hebrew has adapted to Ashkenazi Hebrew phonology in some respects, mainly the following: The vocabulary of Israeli Hebrew is much larger than that of earlier periods. According to Ghil'ad Zuckermann : The number of attested Biblical Hebrew words

10004-532: The early 6th century BCE, the Neo-Babylonian Empire conquered the ancient Kingdom of Judah , destroying much of Jerusalem and exiling its population far to the east in Babylon . During the Babylonian captivity , many Israelites learned Aramaic, the closely related Semitic language of their captors. Thus, for a significant period, the Jewish elite became influenced by Aramaic. After Cyrus

10126-428: The economy had fallen into due to rampant inflation. Simultaneously, he and the heads of the bank found themselves in one of the toughest economic crises in the history of the State of Israel - the 1983 bank stocks crisis. In the early eighties,Inflation spiraled out of control, reaching peaks unprecedented in the country's history, and price hikes were a routine matter. In 1984, inflation peaked at 450%. In 1984,

10248-453: The economy's activity against foreign countries and the foreign exchange market. After the 1985 Economic Stabilization Plan, the bank's position was strengthened, mainly due to the amendment to the Bank of Israel Law , which prohibited the government from borrowing money from the bank to cover budget deficits. David Klein was appointed as the seventh governor in 2000 and continued

10370-465: The establishment of a central bank, the government hoped to improve its control over the banking system and credit allocation. After the establishment of the Bank of Israel, the banking system underwent a process of consolidation, during which cooperative societies were merged into larger banks. This trend was encouraged by both the Bank of Israel and the government, as it facilitated government and bank control over credit allocation. The establishment of

10492-502: The establishment of industries that manufactured supplies for the British army. After the founding of the state of Israel in 1948, the bank won the concession to issue new banknotes. In 1950, the bank was renamed Bank Leumi le-Israel (National Bank of Israel). When the Bank of Israel was established in 1954, Bank Leumi became a commercial bank . In 1971, Bank Leumi acquired Arab Israel Bank (Ai Bank; est. 1960), which serves mainly

10614-454: The financial system in Israel. It also administers and implements monetary policy in Israel, conducts foreign exchange operations, supervises and regulates the banking system, takes care of the foreign reserves and operations of the financial market infrastructure . The Bank of Israel has, under Article 41 and 44 of its Statute, the exclusive right to issue Israeli Shekel banknotes and coins. When Israel gained independence in 1948,

10736-711: The first Middle East printing press, in Safed (modern Israel), produced a small number of books in Hebrew in 1577, which were then sold to the nearby Jewish world. This meant not only that well-educated Jews in all parts of the world could correspond in a mutually intelligible language, and that books and legal documents published or written in any part of the world could be read by Jews in all other parts, but that an educated Jew could travel and converse with Jews in distant places, just as priests and other educated Christians could converse in Latin. For example, Rabbi Avraham Danzig wrote

10858-406: The generic term for these passages is Baraitot . The dialect of all these works is very similar to Mishnaic Hebrew. About a century after the publication of the Mishnah, Mishnaic Hebrew fell into disuse as a spoken language. By the third century CE, sages could no longer identify the Hebrew names of many plants mentioned in the Mishnah. Only a few sages, primarily in the southern regions, retained

10980-556: The global economy. In 2018, Professor Amir Yaron was appointed as the governor of the bank. During his tenure, the Bank of Israel provided approval for the establishment of two new banks in Israel: Bank One Zero and Bank Ash Israel. The current headquarters in Jerusalem was designed by the architecture office of Arieh Sharon and his son, Eldar Sharon. They won the first prize for the project in 1966 and worked at

11102-462: The language as Ivrit , meaning Hebrew; however, Mishnah Megillah refers to the language as Ashurit , meaning Assyrian , which is derived from the name of the alphabet used , in contrast to Ivrit , meaning the Paleo-Hebrew alphabet . Hebrew ceased to be a regular spoken language sometime between 200 and 400 CE, as it declined in the aftermath of the unsuccessful Bar Kokhba revolt , which

11224-465: The language spoken by Jews in scenes from the New Testament) is often referred to as "Hebrew" in the text, although this term is often re-interpreted as referring to Aramaic instead and is rendered accordingly in recent translations. Nonetheless, these glosses can be interpreted as Hebrew as well. It has been argued that Hebrew, rather than Aramaic or Koine Greek, lay behind the composition of

11346-471: The language. The revival of the Hebrew language as a mother tongue was initiated in the late 19th century by the efforts of Ben-Yehuda. He joined the Jewish national movement and in 1881 immigrated to Palestine , then a part of the Ottoman Empire . Motivated by the surrounding ideals of renovation and rejection of the diaspora " shtetl " lifestyle, Ben-Yehuda set out to develop tools for making

11468-464: The law greatly assisted in this), and the bank's position was significantly strengthened. In 1986, Prof. Michael Bruno, one of the architects of the stabilization plan, was appointed governor of the bank. Further strengthening of the position of the Bank of Israel occurred after the publication of the findings of the Basle Committee in 1986 and the expansion of the Bank of Israel's powers as

11590-727: The newly declared State of Israel . Hebrew is the most widely spoken language in Israel today. In the Modern Period, from the 19th century onward, the literary Hebrew tradition revived as the spoken language of modern Israel, called variously Israeli Hebrew , Modern Israeli Hebrew , Modern Hebrew , New Hebrew , Israeli Standard Hebrew , Standard Hebrew and so on. Israeli Hebrew exhibits some features of Sephardic Hebrew from its local Jerusalemite tradition but adapts it with numerous neologisms, borrowed terms (often technical) from European languages and adopted terms (often colloquial) from Arabic. The literary and narrative use of Hebrew

11712-404: The path of preceding governors: implemented monetary reforms, managed a tough monetary policy, initiated efforts to transfer authority over salary agreements to the Treasury, and liberalized the foreign currency market. During Klein's tenure, tensions rose in the field of labor relations. There was also conflict between the Bank of Israel and the Treasury regarding the salary agreements practiced in

11834-534: The phonetic values are instead inspired by the acrophonic principle. The common ancestor of Hebrew and Phoenician is called Canaanite , and was the first to use a Semitic alphabet distinct from that of Egyptian. One ancient document is the famous Moabite Stone , written in the Moabite dialect; the Siloam inscription , found near Jerusalem , is an early example of Hebrew. Less ancient samples of Archaic Hebrew include

11956-532: The power of note issuance was vested with the Anglo-Palestine Bank , which was refounded as Bank Leumi in 1950. This was done due to the urgency at the time to produce notes. Monetary policy and banking supervision remained controlled by the Ministry of Finance . Since a central bank is considered a must in modern countries, in March 1951, a committee was founded called the "committee to establish

12078-661: The present Bank Leumi, was founded at the Second Zionist Congress in Basel and incorporated in London in 1899 as the financial instrument of the Zionist Organization . The initial capital raised—a total of £395,000—fell far short of the £8 million target; Nahum Sokolow wrote in 1919: "The British East Africa Company , which administered 200,000 square miles, began with the same amount £250,000." The bank's activities in Palestine were carried out by

12200-591: The present day. It is perhaps the most important Hebrew manuscript in existence. During the Golden age of Jewish culture in Spain , important work was done by grammarians in explaining the grammar and vocabulary of Biblical Hebrew; much of this was based on the work of the grammarians of Classical Arabic . Important Hebrew grammarians were Judah ben David Hayyuj , Jonah ibn Janah , Abraham ibn Ezra and later (in Provence ), David Kimhi . A great deal of poetry

12322-635: The primary language of use, and to prevent large-scale incorporation of English words into the Hebrew vocabulary. The Academy of the Hebrew Language of the Hebrew University of Jerusalem currently invents about 2,000 new Hebrew words each year for modern words by finding an original Hebrew word that captures the meaning, as an alternative to incorporating more English words into Hebrew vocabulary. The Haifa municipality has banned officials from using English words in official documents, and

12444-452: The private banking assets of Bank Leumi. Baer bought Bank Leumi (Luxembourg) S.A., Leumi's private bank in Luxembourg and Leumi will also transfer the clients of Leumi Private Bank to Baer. In July 2019, Samer Haj-Yehia was appointed chairman. Bank Leumi USA, the bank's U.S. subsidiary, was purchased by Valley National Bank in 2022 for US$ 1.2 billion in cash and stock. In 2023 Pablo Rosenberg and Gal Toren began to serve as presenters of

12566-734: The rest of the Middle East; and eventually Greek functioned as another international language with the eastern areas of the Roman Empire. William Schniedewind argues that after waning in the Persian period, the religious importance of Hebrew grew in the Hellenistic and Roman periods, and cites epigraphical evidence that Hebrew survived as a vernacular language – though both its grammar and its writing system had been substantially influenced by Aramaic. According to another summary, Greek

12688-493: The southern villages of Judea." In other words, "in terms of dialect geography, at the time of the tannaim Palestine could be divided into the Aramaic-speaking regions of Galilee and Samaria and a smaller area, Judaea, in which Rabbinic Hebrew was used among the descendants of returning exiles." In addition, it has been surmised that Koine Greek was the primary vehicle of communication in coastal cities and among

12810-474: The spoken language of the Russian Jews, should be treated as their only national language, while Hebrew was to be treated as a foreign language. Hebrew books and periodicals ceased to be published and were seized from the libraries, although liturgical texts were still published until the 1930s. Despite numerous protests, a policy of suppression of the teaching of Hebrew operated from the 1930s on. Later in

12932-681: The stock, constituting the control core of the bank. Sixty percent of the bank's stocks are held by the public and traded on the Tel Aviv Stock Exchange . The antecedents of the Jewish Colonial Trust can be traced to Herzl's visionary tract " Der Judenstaat " (lit. "The Jewish State"), detailing his vision of how the Jewish State would be created. A major role was assigned in this vision to a huge body, to be called "The Jewish Company", which would be "founded as

13054-470: The term "Hebrew" generally render its meaning as roughly "from the other side [of the river/desert]"—i.e., an exonym for the inhabitants of the land of Israel and Judah , perhaps from the perspective of Mesopotamia , Phoenicia or Transjordan (with the river referred to being perhaps the Euphrates , Jordan or Litani ; or maybe the northern Arabian Desert between Babylonia and Canaan ). Compare

13176-518: The time of the Babylonian captivity . For this reason, Hebrew has been referred to by Jews as Lashon Hakodesh ( לְשׁוֹן הַקֹּדֶש , lit.   ' the holy tongue ' or ' the tongue [of] holiness ' ) since ancient times. The language was not referred to by the name Hebrew in the Bible , but as Yehudit ( transl.  ' Judean ' ) or Səpaṯ Kəna'an ( transl.  "the language of Canaan " ). Mishnah Gittin 9:8 refers to

13298-580: The upper class of Jerusalem , while Aramaic was prevalent in the lower class of Jerusalem, but not in the surrounding countryside. After the suppression of the Bar Kokhba revolt in the 2nd century CE, Judaeans were forced to disperse. Many relocated to Galilee, so most remaining native speakers of Hebrew at that last stage would have been found in the north. Many scholars have pointed out that Hebrew continued to be used alongside Aramaic during Second Temple times, not only for religious purposes but also for nationalistic reasons, especially during revolts such as

13420-505: The word Habiru or cognate Assyrian ebru , of identical meaning. One of the earliest references to the language's name as " Ivrit " is found in the prologue to the Book of Sirach , from the 2nd century BCE. The Hebrew Bible does not use the term "Hebrew" in reference to the language of the Hebrew people; its later historiography, in the Book of Kings , refers to it as יְהוּדִית Yehudit " Judahite (language)". Hebrew belongs to

13542-595: The world today; the latter group utilizes the Samaritan dialect as their liturgical tongue. As a non- first language , it is studied mostly by non-Israeli Jews and students in Israel, by archaeologists and linguists specializing in the Middle East and its civilizations , and by theologians in Christian seminaries . The modern English word "Hebrew" is derived from Old French Ebrau , via Latin from

13664-421: Was a spoken language , and Amoraic Hebrew (also called Late Rabbinic Hebrew or Mishnaic Hebrew II), which was a literary language . The earlier section of the Talmud is the Mishnah that was published around 200 CE, although many of the stories take place much earlier, and were written in the earlier Mishnaic dialect. The dialect is also found in certain Dead Sea Scrolls. Mishnaic Hebrew is considered to be one of

13786-457: Was carried out against the Roman Empire by the Jews of Judaea . Aramaic and, to a lesser extent, Greek were already in use as international languages, especially among societal elites and immigrants. Hebrew survived into the medieval period as the language of Jewish liturgy , rabbinic literature , intra-Jewish commerce, and Jewish poetic literature . The first dated book printed in Hebrew

13908-422: Was implemented, prohibiting the government from borrowing money from the bank to cover budget deficits, and the shekel was replaced with a new shekel by removing three zeros. The stabilization plan took into account components of a comprehensive rehabilitation plan, and its essence included: significant cuts in the government budget (mainly through noticeable reductions in subsidies and other government expenditures);

14030-491: Was now a more significant written language than Aramaic within Judaea." This nationalist aspect was further emphasized during periods of conflict, as Hannah Cotton observing in her analysis of legal documents during the Jewish revolts against Rome that "Hebrew became the symbol of Jewish nationalism, of the independent Jewish State." The nationalist use of Hebrew is evidenced in several historical documents and artefacts, including

14152-566: Was published by Abraham Garton in Reggio ( Calabria , Italy) in 1475. With the rise of Zionism in the 19th century, the Hebrew language experienced a full-scale revival as a spoken and literary language. The creation of a modern version of the ancient language was led by Eliezer Ben-Yehuda . Modern Hebrew ( Ivrit ) became the main language of the Yishuv in Palestine , and subsequently

14274-629: Was revived beginning with the Haskalah movement. The first secular periodical in Hebrew, Ha-Me'assef (The Gatherer), was published by maskilim in Königsberg (today's Kaliningrad ) from 1783 onwards. In the mid-19th century, publications of several Eastern European Hebrew-language newspapers (e.g. Hamagid , founded in Ełk in 1856) multiplied. Prominent poets were Hayim Nahman Bialik and Shaul Tchernichovsky ; there were also novels written in

14396-531: Was suppressed. Soviet authorities considered the use of Hebrew "reactionary" since it was associated with Zionism, and the teaching of Hebrew at primary and secondary schools was officially banned by the People's Commissariat for Education as early as 1919, as part of an overall agenda aiming to secularize education (the language itself did not cease to be studied at universities for historical and linguistic purposes ). The official ordinance stated that Yiddish, being

14518-427: Was the government's difficulty in supervising credit allocation and the lack of oversight over the banking system. Until the establishment of the bank, the bank supervision department was a small division within the Ministry of Finance , lacking the tools to oversee the complex banking system, which included dozens of banking institutions and cooperative credit societies scattered geographically throughout Israel. Through

14640-551: Was the language of government, Hebrew the language of prayer, study and religious texts, and Aramaic was the language of legal contracts and trade. There was also a geographic pattern: according to Bernard Spolsky , by the beginning of the Common Era, " Judeo-Aramaic was mainly used in Galilee in the north, Greek was concentrated in the former colonies and around governmental centers, and Hebrew monolingualism continued mainly in

14762-408: Was to a certain extent a pidgin . Near the end of that century the Jewish activist Eliezer Ben-Yehuda , owing to the ideology of the national revival ( שיבת ציון , Shivat Tziyon , later Zionism ), began reviving Hebrew as a modern spoken language. Eventually, as a result of the local movement he created, but more significantly as a result of the new groups of immigrants known under the name of

14884-570: Was written, by poets such as Dunash ben Labrat , Solomon ibn Gabirol , Judah ha-Levi , Moses ibn Ezra and Abraham ibn Ezra , in a "purified" Hebrew based on the work of these grammarians, and in Arabic quantitative or strophic meters. This literary Hebrew was later used by Italian Jewish poets. The need to express scientific and philosophical concepts from Classical Greek and Medieval Arabic motivated Medieval Hebrew to borrow terminology and grammar from these other languages, or to coin equivalent terms from existing Hebrew roots, giving rise to

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