State of Israel Bonds

About Us
State Of

Israel

Bonds
State of Israel bonds are securities issued by the government of Israel. State of Israel Bonds is also the more familiar name of the underwriter for the bonds in the United States. The Israel Bonds organization is headquartered in New York. Joshua Matza, a former member of the Knesset and a cabinet minister in the government of Benjamin Netanyahu, has served as president and CEO since 2002. The sale of Israel bonds is a worldwide enterprise. In addition to the United States, offices are located in Canada, Latin America and Europe.

History
The idea to float bonds was conceived by Prime Minister David Ben-Gurion in the aftermath of Israel’s War of Independence. The nation’s fledgling economy was devastated and Ben-Gurion decided to turn to the Diaspora community for help.

His concept was two-fold: to obtain millions of dollars in funding for immigrant absorption and construction of national infrastructure; and to engage Diaspora Jewry in the building and development of the new Jewish state.
Expectations for first-year sales were $25 million. Instead, final results for 1951 more than doubled projections, exceeding $52 million. Over subsequent decades, sales have steadily increased and now approach $26 billion. In 2007, $1.094 billion were sold.

Securities
Israel Bonds currently offers the following securities:

Maturities range from two—five years.

Israel has met every payment of principal and interest on time and in full, and has been assigned ‘positive’ ratings from Moody’s, Standard & Poor’s and Fitch.
Israel bonds are a multi-purpose investment that can be utilized for:

Pension funds
IRAs
Foundation endowment funds
Trust funds
Matching funds programs
Charitable or individual gift-giving
Portfolio diversification

Projects
Proceeds from the sale of Israel bonds are utilized by Israel’s Finance Ministry for economic development. Early projects included:

The National Water Carrier, which irrigated nearly half a million acres and allowed Israel to become agriculturally self-sufficient
The Dead Sea Works, which extracted potash and bromine and became Israel’s first major industrial complex
Port development and expansion in Ashdod, Haifa and Eilat that opened gateways to Europe, Asia and Africa
The Hadera power plant, which helped alleviate Israel’s chronic lack of energy resources

Today, Israel Bonds funding is helping with:

New communities and industrial parks in the Galilee and Negev
Completion of Jerusalem’s light-rail system
Extending the national rail network
Strengthening and modernizing national infrastructure to increase export potential

Leadership

Joshua Matza
President and CEO

Joshua Matza has been president and CEO since February 2002 by Prime Minister Ariel Sharon. Mr. Matza served his 18 years in the Knesset prior to coming to Bonds. Mr. Matza consults often with Prime Minister Ehud Olmert.

Mr Matza has a long and distinguished record of service to Israel. He served in the pre-state underground and attained the rank of captain in the Israel Defense Forces. He served as deputy mayor of Jerusalem and was a longtime member of the Jerusalem City Council.

In addition to his many years in the Knesset, Mr. Matza was Minister of Health in the cabinet of Prime Minister Netanyahu.

Since coming to Israel Bonds, Mr. Matza has led the organization to several record breaking years and is ready to assist Israel in meeting its financial needs as it strives to combat the terrorist aggression on its borders.

Michael Siegal
Chairman, Board of Directors

Michael Siegal became Chairman of the Board of Directors in March, 2007. He is chief executive officer and chairman of the board of Olympic Steel, headquartered in Bedford Heights, Ohio.

He has played an active role in the Israel Bonds organization since 1975. Initial leadership roles included serving as North American New Leadership chairman and general chairman of the Cleveland Israel Bonds campaign.

During, “Operation Desert Storm” Michael Siegal led an Israel Bonds solidarity delegation to Israel even as Iraqi scuds were being launched at Tel Aviv. He returned to Israel a few months later to assess the Bonds role in providing funding for new immigrants from the Soviet Union and Ethiopia. As Israel again found itself under attack again in 2006, Mr. Siegal lead a solidarity delegation to northern Israel to meet with those Israelis directly impacted and view the reconstruction efforts in December 2006. Planning is currently underway for another demonstration of support later this year.

David Halpern
National Chairman

Real Estate developer David Halpern of Livingston, New Jersey has been appointed Israel Bonds national chairman, it was announced by Bonds President and CEO Joshua Matza.

Mr. Matza praised Halpern as "an outstanding example of today's generation of dynamic Jewish leadership. We are confident that David's heartfelt dedication to Israel and its economic well-being will result in exceptional achievements for the Bonds campaign." He added: "As the son of Holocaust survivors, David has a uniquely personal perspective on the importance of a strong, secure Jewish state."

The Bonds chairman is also active on behalf of Yad Vashem and plays a prominent leadership role in a number of Jewish organizations.

Richard L. Hirsch
Chairman of the Executive Committee
Vice Chairman of the Board

Richard L. Hirsch of New York is managing director of Concurrent Industries, which he joined in 1990 after serving as president of Welbilt Corporation.

Mr. Hirsch was elected vice chairman of Israel Bonds’ board of directors and chairman of the executive committee on March 28, 2007. A veteran Jewish communal leader, he is a former president of the Jewish Week newspaper and Fifth Avenue Synagogue in Manhattan.