PASSOVER
businessman from the Gulf
"We want to know what kind
of authority and economic poli-
cies will govern the Palestinian
areas. Our aspirations are to
have a democracy with a capi-
talist economy and a well-man-
aged government," he added.
"Most of us are interested in in-
vestments in the tourist indus-
try, but also in industries
producing communications
technology," he said.
Ibrahim Abdel Hadi, a
wealthy businessman from
Nablus who heads the Arab In-
surance Company and Real Es-
tate Company, said that all
those who attended the work-
shop were waiting to come and
invest. "This workshop gives
us a chance to make contacts
which may lead to joint busi-
ness ventures," Abdel Hadi said.
A businessman from the Gulf
said people are worried about
high interest rates in the case
of a likely agreement between
the Jordanian Central Bank
and the Bank of Israel, which
would permit the Palestinians
to use both shekels and Jor-
danian dinars.
That would mean that any
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OPIERIVUOIS.
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'221-2791
Gail Butcher, Branch Manager
33621 W. 7 Mile Road • Livonia
(313) 476-6699
Belinda Lopez, Branch Manager
869-A W. Eisenhower Pkwy. • Ann Arbor
(313) 663-6767
Kathleen Stallings, Brand?, Manager
Kings Row Center • 5082 Rochester Road • Troy
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Jennifer Detter, Branch Manager
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Grow with Israel!
1
"This workshop
gives us a
chance to make
contacts."
Palestinian bank dealing with
both currencies would have to
pay interest to both banks,
which would increase interest
rates.
"Therefore, we definitely
need a Palestinian currency
board which would generate a
Palestinian currency," the Gulf
businessman said.
Tawfik Fakhoury, the direc-
tor of the Bank ofJordan, was
also present at the investors'
conference.
His representative in the ter-
ritories, Yahiya Zakaria, said
the Bank ofJordan will start its
operations in the territories in
January.
'We are ready to start our op-
erations all over the territories.
We are only waiting for the fur-
niture from Italy," Mr. Zakaria
said. "We will have branches in
Jericho, Ramallah, Nablus,
Jenin, Tulkarm, Hebron and
Gaza City."
Mr. Zakaria does not believe
there will be a Palestinian cur-
rency in the near future. He
says that the Jordanian dinar
would be the official Palestin-
ian currency.
Sources said Jordan and
Palestinians are about to sign an
agreement for the Palestinians'
right to use the the dinar. 0
/rC/96. ,
Israel Growth Trust
an d
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NORTON STERN
HAMILTON INVESTMENTS
Member NASD SIPC
Sunset Boulevard
(313) 358-1181
28411 Northwestern Hwy., Ste. 115
Southfield, MI 48034
featuring Leslye Sklar
Hamilton Investments, Inc. is owned by Household International It is a separate corporation from Household Bank f.sb. and the investments
recommended, offered and sold by it are not obligations or, guaranteed, or insured by Household Bank or the FDIC.
tell me more. Please send me a free prospectus for more complete information, including
charges and expenses. I will read the prospectus carefully before I invest or scrod money.
Send to:
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Addrcs:
City/State/Zip
Business/Home Phone
music for all occasions
(313) 553-3774
Information contained herein is subject to completion or amendment. A registration statement
relating to these securities has been filed with the Securities and Exchange Commission. These
securities may not be sold nor may offers to buy be accepted prior to the time the registration
statement becomes effective. This shall not constitute an offer to sell or the solicitation of an offer
to buy, nor shall there be any sale of these securities in any State in which such offer, solicita-
tion or sale would be unlawful prior to registration or qualification under the securities laws of
any such State.