Thriving in a New Financial Era Post-Brexit.
Hanita Ajnwojner
Israel Bonds, Deputy Director of Sales, Germany
Due to the decision of the UK to leave the European Union, the financial passporting, meaning to work with a banking license from the FCA in the UK was no longer possible for Israel Bonds offices in the European Union.
The German office was chosen to become the new headquarters for Israel Bonds within the European Union after the formalization of Brexit. We have established a German company and secured the necessary license from the German Federal Financial Supervisory Authority (BaFin). For our clients, nothing has changed, except that from the beginning of 2021 our company is licensed and regulated by BaFin and operates in the European Union under the new name of Development Company for Israel (Europe) GmbH.
The same year we managed to not only surpass our goals but also to sell bonds exceeding the amount of $100 million. We took over the branch in Paris from the DCI Intl. Ltd. and reduced the costs substantially.
All those great achievements would not be possible without our outstanding German team, and I want to thank them for their great work and dedication.
Well done!
In 2022 we had a tough year. The Corona Virus restrictions were lifted in March, but another crisis hit Europe. Russia started the war with Ukraine and lead to a wave of refugees coming to Germany, Inflation in Germany surpassed 10% and people became very unsecure about the future. Customers were cautious and preferred to remain financially liquid. We still managed to do a good job despite the circumstances.
In 2023 we will surpass our goals again and contribute to the historically best performance for the international business of
Israel Bonds.
Many thanks to our colleagues around the world that are helping us to remain one of the best performing entities of Israel Bonds.
In the last years Israel Bonds has experienced a lot of changes when it comes to digitalization. Due to new state of the art software systems, new telephone systems and updates to our website, Israel Bonds is well positioned and prepared for the new era.
In these challenging times, Israel Bonds worldwide have stepped up to the task. We are confident that Israel will overcome this crisis and bounce back even stronger.
We take pride in our commitment to serving the State of Israel and steadfastly supporting the remarkable land of milk and honey.
Our gratitude goes out to all the supporters and investors who consistently contribute to maintaining Israel as a light unto the nations.