Mizrahi-Tefahot Bank will provide a NIS 1,000 grant for every child born in Israel since the October 7 massacre, to be deposited into a dedicated savings account for each child, the bank announced on Sunday.
The initiative, framed as “a new beginning” to promote long-term financial security, targets what the bank calls “children of the war.”
Under the plan, existing customers will receive the grant automatically, while new customers who open an account with Mizrahi-Tefahot will also be eligible, according to the bank. Eligibility is conditioned on an average monthly spend of NIS 3,000 on a Mizrahi-Tefahot credit card.
Campaign led by former hostage Sagui Dekel-Chen
The public rollout will be fronted by former Hamas hostage Sagui Dekel-Chen, whose daughter was born during his time in captivity, alongside bank presenters Dvir Bendek and Chen Amsalem, the bank said.
Mizrahi-Tefahot CEO Moshe Larry called the children born amid the ongoing war “a living symbol of renewal and hope,” and said the one-time grant is intended to serve as a first milestone in long-term savings that will secure their future.
He added that at Dekel-Chen’s request, the bank will donate NIS 100,000 to the charity “Wrapped with Love,” which supports children orphaned by the war.
According to the bank, channeling the grant into a designated savings deposit is intended to encourage parents to begin saving consistently for their children’s future. The program applies to children born from October 7, 2023, onward.
“The children who were born into a hard and exhausting war are a living symbol of renewal and hope for Israeli society,” Larry said, noting the bank’s donation to the war orphans’ nonprofit at Dekel-Chen’s request.