The idea to create a bank that would support Jewish settlement in Palestine is suggested at the First Zionist Congress in 1897, and implemented in Palestine by 1903. Its purpose is to support economic development and strengthen Jewish colonies in Palestine. Its name changes first to the Anglo-Palestine Bank, and then to Bank Leumi (national). It provides funds for Jewish settlements, organizations that assist settlement in general, for building portions of Tel Aviv, and for other industries that are established and developed to build the national home.
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