5 Pounds Palestine Saving Bond

The "Higher Nile Valley Authority for the Rescue of Palestine" was not a central bank or government treasury — it was one of several pan-Arab fundraising bodies that emerged in early 1948 to finance Palestinian Arab resistance as the British Mandate collapsed. These saving bonds were subscription instruments, not circulating currency, issued to Arab donors rather than deployed as transactional money. Whether any meaningful redemption mechanism ever existed behind them is doubtful.

Cairo was the organizational and printing hub for much of this activity, and several competing bodies issued similar paper during the same months, creating genuine attribution headaches for collectors today.