Balance Sheet for Five Zionist/Jewish Banks, 1939 to 1945, and Control of Banks in Palestine before 1948 (Nakba), British Mandate: A Survey of Palestine: Volume II - Page 560. Chapter XIV: Finance: Section 4: Banking: (d) Distribution of Deposits By Race: Table 7

CHAPTER XIV.

Table 7.
Paid-up Reserve I Total I Tot&l advances
and bills
capital funds deposits discounted
£!'-. -£P. I £P. . £P.
81. 8.89 845,582 71,965 1,870,515 1,608,505
81.12.39 851,429 70,682 1,491,603 1,419,703
81.12.40 869,125 75,266 1,205,142 1,171,163
81.12.41 376,806 57,151 1,698,756 1,238,998
81.12.42 428,716 62,445 2,542,710 1,647,799
81.12.48 716,221 78,645 4,983,729 2,632,709
31.12.44 887,5211 161,938 6,854,611 3,701,438
31.10.45 1,088,704 217,147 8,730,443 5,537,736

(o) Control of banks.

48. Section 5 of the Banking Ordinance, 1941, provides that the Examiner of Banks shall exercise general supervision and control over the carrying on of banking business in Palestine, and shall have power to call for any books, accounts or documents of any bank. Every bank submits to Government a statutory statement of its assets and liabilities at the end of each month and a. half yearly analysis of advances and bills discounted. These statements are scrutinized and criticised by the Examiner of Banks. In addition, the Examiner of Banks calls for detailed statements of advances, bills discounted and investments at the end of each year. Section 10 of the Banking Ordinance requires every bank to publish in a daily newspaper circulating in Palestine a copy of its audited balance sheet. A copy of this balance sheet, together with a profit and loss account, is forwarded to the Examiner of Banks, who scrutinises and comments on the balance sheet. The latest balance sheet must be exhibited in every office of the bank concerned. A Banking Advisory Committee was appointed in 1937. Representatives of foreign banks, local banks (Jewish and Arab) and Government are appointed to this committee by the High Commissioner. The Examiner of Banks also is a member. Questions of importance, such as the "liquidity ratio" which banks should maintain, the registration of new banks etc. are referred to the committee, which submits its recommendations direct to the Chief Secretary to the Government.

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