In the summer of 1933, the Jewish Agency for Palestine, the German Zionist Federation, and the German Economics Ministry drafted a plan meant to allow German Jews emigrating to Palestine to retain some of the value of their property in Germany by purchasing German goods for the Yishuv, which would redeem them in Palestine local currency. This scheme, known as the Transfer Agreement or Ha’avarah, met the needs of all interested parties: German Jews, the German economy, and the Mandatory Government and the Yishuv in Palestine.