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The enabling legislation was the Palestine Currency Order, 1927, signed by the King in February 1927. [8] The Palestine pound became legal tender on 1 November 1927. [9] The Egyptian pound (at the fixed rate of £P1 = £E0.975) and the British gold sovereign remained legal tender until 1 March 1928. [8] [10]
The Palestine pound was not, however, used in conjunction with the normal sterling shillings and pence coinage. It was used with a decimal system in which it was divided into 1,000 mils. The Currency Board was dissolved in May 1948, with the end of the British Mandate, but the Palestinian pound continued in circulation for a transitional period:
The Palestine pound before 1948 was not an Arab currency, it was a currency issued by the British colonial authorities in cooperation with the Zionist Anglo-Palestine company. It was used throught Palestine and until 1946 in Transjordan, so Palestinian Arabs used it too. DrorK 15:04, 31 May 2007 (UTC)
The British Mandate of Palestine was created in 1918. In 1927 the Palestine Currency Board, established by the British authorities, and subject to the British Secretary of State for the Colonies, issued the Palestine pound (£P) which was legal tender in Mandate Palestine and Transjordan. £P1 was fixed at exactly £1 sterling.
The Israeli pound (לירה ישראלית, "lira yisraelit") was the currency of the State of Israel from June 1952 until it was replaced with the shekel on 24 February 1980. From 1955, after the Bank of Israel was established and took over the duty of issuing banknotes , only the Hebrew name was used, along with the symbol "IL". [ 8 ]
Ottoman Turkish pound – Ottoman Empire; Palestine pound – British Mandate of Palestine; Papal pound – Papal states; Parisian pound – France; Parman pound – Parma; Pennsylvania pound – Pennsylvania; Peruvian pound – Peru; Pound sterling – United Kingdom, British Indian Ocean Territory (accepted) Prince Edward Island pound ...
Palestine, [i] officially the State of Palestine, [ii] [e] is a country in the Southern Levant region of West Asia recognized by majority of UN member states.It encompasses the Israeli-occupied West Bank, including East Jerusalem, and the Gaza Strip, collectively known as the occupied Palestinian territories, within the broader geographic and historical Palestine region.
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