Whereas the British mandate restricted immigration by applicants without financial means, anyone equipped with at least 1,000 Palestinian pounds (1 pound Palestine=1 pound sterling) was granted free entry under a so-called ‘capitalist visa’. The Haavara Transfer was designed to take advantage of this loophole. The scheme operated by allowing German Jews to make payments into a fund in Berlin in exchange for certificates crediting them with sufficient Palestinian pounds to allow them to obtain the coveted visa.
