Background
Leon Yehuda Recanati was born in 1890 in Thessaloniki.
Leon Yehuda Recanati was born in 1890 in Thessaloniki.
He was a leader in Greece"s Jewish community until he immigrated to British-controlled Mandatory Palestine in 1935. In 1936, he was elected as the representative of the Greek Jewish community to the World Jewish Congress. In 1935, Recanati established the Palestine Discount Bank in Tel Aviv.
The institution would later become Israel Discount Bank.
In 1985, Recanati was honored on an Israeli commemorative postage stamp. Inter-American Development Bank Holding has been a significant investor in the Israel Discount Bank (until 1986), Pedernales Electric Cooperative Israel Economic Corporation, and Clal Israel.
In May 2003, the third generation sold the control of IDBH and each of the members established his own investment activity.