In the early 1950s, the Bank Leumi le-Israel B.M. absorbed the assets of the Anglo-Palestine and began issuing banknotes in 1952. These notes are similar to the previous issue, and circulated until 1955, when the Bank of Israel began issuing notes. The Bank Leumi le-Israel B.M. notes were officially demonetized in 1981. This 1 Pound is a handsome Uncirculated example and it is scarce in this grade.