Zohar Tse'elim

Municipal Bank Ltd. is a bank and engages in financial services. It operates through the following segments: Short-term and long-term credit and Raising deposits. The Short-term and long-term credit segment grants credit mainly to local authorities and to water and sewage corporations, to urban economic companies, to municipal and public sector suppliers, and to other entities, primarily in the urban and public sectors in Israel, including infrastructure, income-producing real estate finance, leasing and public transportation. The Raising deposits segment is operates in raising deposits mainly from institutional investors, local authorities and other companies, and issues of debentures, subordinated deeds and commercial securities. The company was founded in 1953 and is headquartered in Tel Aviv, Israel.

Dexia Israel Issuance Ltd. provides banking services to local authorities. The company is headquartered in Tel Aviv Jaffa, Israel.