The British Mandate of Palestine, which administered the territory now known as Israel, Jerusalem, the West Bank and Gaza prior to May 15, 1948, issued the Palestine pound, a currency equal in value and pegged to the UK Pound, which was divided into 1000 Mils.
During the 1960s, a debate over the non-Hebrew name of the Israeli currency resulted in a law ordering the Minister of Finance to change the name pound into a Hebrew name, Shekel (שקל).