#Israel's sovereign wealth fund to begin on June 1 -FinMin | Reuters

Israel's sovereign wealth fund to begin on June 1 -FinMin | Reuters

Israel's long-delayed sovereign wealth fund can start operating on June 1 now that taxes on profits from natural gas and other resources have passed the 1 billion shekels ($301 million) minimum, the Finance Ministry and Tax Authority said on Monday.

Finance Minister Avigdor will sign an order to transfer 1.14 billion shekels, levies accumulated to date, to the fund on Wednesday, the ministry said.