Bouncing Checks Reach New Heights In Israel Contributing To IBT Closure.(Israel Business...
Because of insufficient funds in the accounts of drawees Israeli banks during November 2000 returned nearly 200,000 checks worth approximately NIS 700 million ($171 million). since the start of the year until the end of November banks have bounced NIS 5.2 billion worth of checks, a record amount. Many Israeli companies have been suffering because of the ongoing recession that most industries are enduring and the recent downturn in the American economy has made matters worse. America is Israel's best customer and the sudden falloff in orders from that market, together with the torr
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