The banknotes of Palestine tell a story that few history books capture — the story of a land that passed through empires and mandates, all reflected in the paper money that ordinary people carried in their pockets every day.
This collection spans two distinct periods in Palestinian history, each with its own fascinating story of politics, economics and identity.
The Ottoman Period (1840s–1918)
For centuries, Palestine was part of the vast Ottoman Empire, and its currency reflected that imperial reach. The Ottoman Empire introduced paper banknotes — known as kaime — as early as the 1840s, making them among the earliest paper currencies in the region. These notes circulated across Palestine through decades of Ottoman administration, trade and daily life, evolving through successive series as the empire modernised and struggled to finance its ambitions.
By the late 19th and early 20th centuries, Ottoman banknotes had become a familiar part of Palestinian commerce — carried by merchants in the markets of Jerusalem, Jaffa and Nablus, used to pay taxes, settle debts and conduct the business of everyday life. Their circulation came to an abrupt end with the empire’s collapse following the First World War in 1918. These notes are rare and beautiful artefacts — windows into a world that vanished almost overnight.
The British Mandate Period (1917–1948)
Following the Ottoman defeat in 1917, Britain assumed control of Palestine under a League of Nations Mandate. The new administration needed an immediate currency solution — and turned to the Egyptian Pound, issued by the National Bank of Egypt, which became the official currency of the military administration and circulated across Palestine for the first decade of British rule.
To stabilise the economy and replace the chaotic mixture of currencies still in circulation, the Palestine Currency Board was established in 1927, issuing a new currency designed specifically for Mandatory Palestine. These banknotes — bearing Arabic, English and Hebrew text — became the official currency of Palestinian daily life, circulating through the markets of Jerusalem, Jaffa, Haifa and Nablus until 1948. They are among the most historically significant and collectible artefacts of the entire Mandate period.
The Egyptian Pound Period (1917–1927)
Before the Palestine Currency Board was established, the primary currency in circulation across Palestine was the Egyptian Pound, introduced by the British military administration following their conquest of Palestine in 1917. These notes — issued by the National Bank of Egypt — circulated alongside Ottoman currency during a turbulent transitional period, as the old imperial order collapsed and a new administrative reality took shape. They represent a brief but historically significant chapter in Palestinian monetary history, bridging the Ottoman past and the Mandate future.
The Palestine Currency Board (1927–1948)
In 1927 the British authorities established the Palestine Currency Board, issuing a new currency designed specifically for Mandatory Palestine. These banknotes — bearing Arabic, English and Hebrew text — became the official currency of Palestinian daily life for two decades. Featuring elegant designs that reflected the land itself, they circulated through the markets of Jerusalem, Jaffa, Haifa and Nablus until 1948. Today they are among the most historically significant and sought-after artefacts of the Mandate period.