On February 24 1980 the Bank of Israel demonetized its "Lira" (Pound) and introduced a new monetary unit: the Sheqel. The Sheqel started its life equal to ten of the old Israeli Lirot. The move was part of the government's battle against inflation. The currency switch was to be phased in over a three month period. The first four notes are dated 5738 – 1978 as they were two years in the printing in a top secret project called "operation menorah". The sheqel monetary unit is one of history's most ancient coinage names, and symbolizes the state of Israel going back to their biblical source. Issued by: Bank of Israel. Denomination: Sheqel = 100 agorot. Printer: J. Enschede and Sons. Haarlem the Netherlands. Watermark: Repeats the profile of the persons shown located in the plain "slip". Security: On the back of the notes two bars of binary codes are imprinted in invisible phosphorescent ink visible through a computer detection system a metal security strip left of center. Withdrawn: Being withdrawn in 1985. Serial numbers: Back of note. Notes are plastic coated to prolong their circulation life. Description common to all banknotes. Face: On the right a portrait of an outstanding Jewish personality. The descriptions are all in Hebrew. On the bottom left of the 1.5 10. 50 Sheqalim the signatures are: Aaron Gafni - governor of the bank and David Horowitz - chairman of the advisory council. The 100 Sheqalim the signatures are: Aaron Gafni and Mark Moshevitz - chairman of the advisory council. The 500 Sheqalim the signatures are Moshe Mendelbaum - governor of the bank and Haim Barkai - chairman of the advisory board. The larger denominations from 1,000 Sheqalim on have Moshe Mendelbaum - governor of the bank and Abraham Josef Shapira - chairman of the advisory council. Back: One of the gates of the wall enclosing the old city of Jerusalem on the 1.5. 10. 100 Sheqalim. The larger denominations depict a scene related to the personality the serial no are on the upper left and lower right.