Ha'avara Agreement

8/25/1933

Nazi Germany and the Jewish Agency concluded the "Ha'avara" (transfer) negotiations, allowing Jews immigrating to Palestine to deposit part of their assets in Germany and receive Palestine pounds upon arrival in Palestine. After three months of talks, the Zionist Federation of Germany, the Anglo-Palestine Bank, and the German economic authorities signed the agreement, which permitted the transfer of Jews' capital from Germany to Palestine by immigrants or investors in the form of goods. The German authorities thereby partially removed a barrier that had greatly impeded the efforts of German Jews to emigrate to Palestine and, at the same time, increased the production and export of German goods. For the Zionists, the agreement facilitated immigration to Palestine by allowing Jewish emigres to salvage some of the value of their property as they left, and to meet one of the criteria for obtaining a certificate of immigration from the British authorities. For a time, the Ha'avara Agreement helped the Nazis in undermining the anti-Nazi boycott.