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MANSFIELD — In light of the Boycott, Divestment, and Sanction (BDS) Movement targeting Israel, the local faith community successfully lobbied Richland County officials to invest in Israeli bonds.
Forty area clergy, along with the Baptist for Israel Institute persuaded County Treasurer Bart Hamilton and the Richland County Commissioner Board into purchasing $200,000 Israeli bonds. In its November meeting, the County Investment Board announced the new investment utilizing county taxpayer funds.
“This sends a clear message that the State of Ohio is willing to stand with Israel to conduct business without bigotry and willing to stand with the world’s only Jewish state to resist terrorism and hate,” said Reverend El Akuchie of the Richland Community Prayer Network.
In separate correspondences, both the clergy and the Baptists for Israel Institute observed that Israeli bonds “have a successful track record, and are investment grade securities currently yielding between sixty and one hundred and seventeen percent of US treasuries of like term as of April 3rd 2017.”
According to Loretta Hite of the Baptists for Israel Institute, she believes “the investment of Israeli Bonds can be a welcome addition to the diverse portfolio of Richland County investments.”
Based in Ontario, Ohio, the Baptists for Israel Institute encourages students to grow in their love for the land & people of Israel through education and experience, coordinating work/study programs at a kibbutz beside the Sea of Galilee.
One year earlier, the Ohio Legislature passed the bipartisan House Bill 476 authorizing county treasurers and the Treasurer of Ohio to increase their investments in debt interests of foreign countries from 1% of their portfolios to 2 %.
This new law enabled the State of Ohio to become the largest holder of Israeli bonds for a government entity in the world. Following the passage of H.B. 476, State Treasurer Josh Mandel purchased a record $ 61 million dollars’ worth of Israeli bonds. His office underscores the fact that nearly eighty municipal retirement portfolios already invest in Israeli bonds, including Cuyahoga and Summit counties.
This new law enabled the State of Ohio to become the largest holder of Israeli bonds for a government entity in the world. Following the passage of H.B. 476, State Treasurer Josh Mandel purchased a record $ 61 million dollars’ worth of Israeli bonds.
In the correspondence, the clergy point out the the purchase of Israeli bonds can impact the foreign policy of the American government. They pointed out that when the federal government sees states and counties investing in Israeli bonds, it is more apt to protect its financial interests.
In the letter, the clergy wrote, “Where your treasure is, there your heart will be as well.”
During the same meeting, Treasurer Bart Hamilton announced Richland County would update the twenty-five year old investment policy. The Board of Commissioners also learned they would also recover half a million dollars in unexpected revenue to alleviate a budget shortfall.
Individuals and congregations can invest in Israeli bonds online by clicking here.
The Bottom Line:
The Bible says in Mathew Chapter Six, “Where your treasure is, there will your heart be also.”
View the video below of Israeli Prime Minister Benjamin Netanyahu discussing the success of Israeli Bonds.
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