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| homepage = {{url|https://www.mercantile.co.il/}} |
| homepage = {{url|https://www.mercantile.co.il/}} |
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'''Mercantile Discount Bank''' ({{lang-he|בנק מרכנתיל דיסקונט בע"מ}}) is a major commercial bank in Israel, and is a subsidiary of [[Israel Discount Bank]]. |
'''Mercantile Discount Bank''' ({{lang-he|בנק מרכנתיל דיסקונט בע"מ}}) is a major commercial bank in Israel, and is a subsidiary of [[Israel Discount Bank]]. It is the sixth largest bank in [[Israel]].{{cn|date=July 2021}} |
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==Controversy== |
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It is the sixth largest bank in [[Israel]].{{cn|date=July 2021}} |
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In 2021, MDB and its parent company IDB reached a settlement of ₪343 million ([[Australian dollar|A$]]137 million) with the [[Australian Tax Office]] (ATO), after allegedly conspiring with the [[Sydney]]-based Binetter family to engage in [[tax fraud]].<ref>{{cite news|url=https://www.afr.com/companies/financial-services/ato-wins-137m-from-binetters-israeli-banks-after-16-year-pursuit-20210201-p56yhq|title=ATO wins $137m from Binetters’ Israeli banks after 16-year pursuit|first=Neil|last=Chenoweth|date=1 February 2021|access-date=29 July 2021|newspaper=Australian Financial Review}}</ref> |
In 2021, MDB and its parent company IDB reached a settlement of ₪343 million ([[Australian dollar|A$]]137 million) with the [[Australian Tax Office]] (ATO), after allegedly conspiring with the [[Sydney]]-based Binetter family to engage in [[tax fraud]].<ref>{{cite news|url=https://www.afr.com/companies/financial-services/ato-wins-137m-from-binetters-israeli-banks-after-16-year-pursuit-20210201-p56yhq|title=ATO wins $137m from Binetters’ Israeli banks after 16-year pursuit|first=Neil|last=Chenoweth|date=1 February 2021|access-date=29 July 2021|newspaper=Australian Financial Review}}</ref> |
Revision as of 11:29, 12 September 2021
32°04′22.62″N 34°47′21.41″E / 32.0729500°N 34.7892806°E
Company type | Public |
---|---|
TASE: DSCT | |
Industry | Banking Financial services |
Founded | 1971 |
Headquarters | , |
Products | consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, Securities, asset management, wealth management, Credit cards |
Parent | Israel Discount Bank |
Website | www |
Mercantile Discount Bank (Hebrew: בנק מרכנתיל דיסקונט בע"מ) is a major commercial bank in Israel, and is a subsidiary of Israel Discount Bank. It is the sixth largest bank in Israel.[citation needed]
Controversy
In 2021, MDB and its parent company IDB reached a settlement of ₪343 million (A$137 million) with the Australian Tax Office (ATO), after allegedly conspiring with the Sydney-based Binetter family to engage in tax fraud.[1]
Criticism
Involvement in Israeli settlements
On 12 February 2020, the United Nations published a database of companies doing business related in the West Bank, including East Jerusalem, as well as in the occupied Golan Heights.[2] Mercantile Discount Bank was listed on the database on account of its activities in Israeli settlements in these occupied territories,[3] which are considered illegal under international law.[4]
References
- ^ Chenoweth, Neil (1 February 2021). "ATO wins $137m from Binetters' Israeli banks after 16-year pursuit". Australian Financial Review. Retrieved 29 July 2021.
- ^ "Database of all business enterprises involved in certain activities relating to Israeli settlements in East Jerusalem and the West Bank (A/HRC/43/71)". UN OCHA. 12 Feb 2020. Retrieved 2021-09-12.
- ^ "UN rights office issues report on business activities related to settlements in the Occupied Palestinian Territory". Office of the United Nations High Commissioner for Human Rights. 12 February 2020. Retrieved 5 July 2021.
- ^ "S/RES/2334(2016)". United Nations Security Council. 23 December 2016. Retrieved 5 July 2021.