Hama, Homs, Jaffa, Jerusalem, Saida, Tripoli. The existing concession of this institution, which originated in a private British concern, but is now largely under French control, terminates in 1925. It acts for the Government in financial matters, and before 1914 it alone had the right to issue notes, which, however, were payable only at Constantinople and were never popular in the provinces; in 1913 the amount issued (against which metal in the ratio of 1 to 3 must be held) was only about £T1,100,000. But the Bank remains free to conduct business of all kinds on its own account, and hardly occupies the position of a national bank in the ordinary sense, though taking the lead in fixing rates of exchange and discount. It has been active in promoting trade by advances upon goods (see below). A new national bank, called the Crédit National Ottoman, has lately been founded at Constantinople.
(ii) Banque de Salonique. Branches at Beirut and Tripoli; nominally a Turkish company, but really a Jewish concern under Austrian influence.
(iii) Banque Commerciale de Palestine. A small Ottoman company formed in 1911, and carrying on business in Jerusalem only.
(iv) Anglo-Palestine Company. A Jewish bank, with headquarters in London, which started operations in Palestine in 1903; it has been suspended by the Turkish Government since the outbreak of the war. The company has branches at Beirut, Gaza, Haifa, Hebron, Jaffa, Jerusalem, Safed, Tiberias, and small agencies in the principal Jewish colonies. To facilitate advances to persons of small means it has adopted the principle of co-operative credit, and a number of societies have been started, especially among the Jewish agricultural population, to take advantage of this.
(v) Crédit Lyonnais. Branches at Jaffa and Jerusalem, with agencies at Beirut and elsewhere. The business of the bank has been reduced to a minimum during the war.
