Bintel Blog

Offbeat Israel: Blessings for Pensions

By Nathan Jeffay

In this financial climate, investments are pretty unpredictable. In fact, one could say — God knows what is a safe investment. So why not get God on your side?

That is exactly what the Harel Group, Israel’s largest investment and insurance company, has attempted to do. Earlier this month, Haredi media report, Rabbi Yosef Shalom Eliyashiv, Israel’s most influential authority on religious law, gave his blessing to an investment track in the Harel Gilad pension fund.

This followed an endorsement of the track by the Oversight Committee for Financial Investments of the Haredi umbrella organization the Eida Haredit. What, you may ask, does this endorsement mean? That investments don’t go to non-kosher firms? Well, kind of.

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