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Country Profile - israel

COUNTRY OVERVIEW

Israel, a Middle Eastern country on the Mediterranean Sea, is regarded by Jews, Christians and Muslims as the biblical Holy Land. Israel is located between Egypt and Lebanon.

Israel

General Information:

Capital: Jerusalem

Language: Hebrew (official), Arabic (special status under Israeli law), English (most commonly used foreign language)

Religion: Jewish 74.3%, Muslim 17.8%, Christian 1.9%, Druze 1.6%, other 4.4% (2018 est.)

Currency: Israeli Shekel

Cryptocurrency: As technology adoption in Israel is fast, a lot of the population is actively using cryptocurrencies to trade, invest in ICOs and purchase goods and services.

Cryptocurrency is not considered to be under the legal definition of currency and is taxed like a taxable asset. Miners and traders of cryptocurrencies are treated as businesses and are a part of those taxing regulations.

GMT: (+) 2

The State of Israel was declared in 1948, after Britain withdrew from its mandate of Palestine. The division of the former British Mandate of Palestine and the creation of the State of Israel in the years after the end of the Second World War was the culmination of the Zionist movement, whose aim was a homeland for Jews hitherto scattered all over the world. It has been locked in conflict with the Palestinians and its Arab neighbours over ownership of land considered holy by many Jews, Christians and Muslims since its creation. 

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