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11 Sivan 5762 - May 22, 2002 | Mordecai Plaut, director Published Weekly
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NEWS
Treasury Removes Objections to Funds with Rabbinical Advisors
by Eliezer Rauchberger

Despite its initial objections to the establishment of mutual funds managed according to halocho and overseen by rabbonim, the Finance Ministry has now backtracked following a parliamentary question tabled by MK Rabbi Moshe Gafni in the Knesset. In response, Deputy Finance Minister Yitzhak Cohen (Shas) then called a meeting in his office and the matter is to be arranged soon.

In a Knesset plenum last week Rabbi Gafni presented the Finance Ministry's official letter of objection to a halocho- based pension fund, saying that in a Jewish state pretending to be democratic it is inconceivable for the Finance Ministry to object to such a proposal. "Next they'll say the banks must stop their heter isko and that we cannot even put money in the bank," said Rabbi Gafni.

Cohen said he originally received a reply from Finance Ministry officials that shocked him and therefore he rejected that reply. "Yesterday in my office and in my bureau I convened the senior staff that handles this issue, and I can say that it will be taken care of quickly in the near future," he reported.

The name of the new fund family manager is Hilat Shoham.

 

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