Exhibit 12.2

CERTIFICATION PURSUANT TO SECTION 302(a) OF THE SARBANES-OXLEY ACT OF 2002

I, Yakov Cohen, certify that:

1.    I have  reviewed  this  annual  report  on  Form  20-F of  Israel  Bank of
      Agriculture Ltd.;

2.    Based on my  knowledge,  this  annual  report  does not contain any untrue
      statement of a material fact or omit to state a material fact necessary to
      make the statements made, in light of the  circumstances  under which such
      statements were made, not misleading with respect to the period covered by
      this report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information included in this annual report, fairly present in all material
      respects the financial condition,  results of operations and cash flows of
      the Bank as of, and for, the periods presented in this report;

4.    The  Bank's  other  certifying   officer(s)  and  I  are  responsible  for
      establishing  and  maintaining  disclosure  controls  and  procedures  (as
      defined in Exchange Act Rules  13a-15(e) and  15d-15(e))  for the Bank and
      have:

      a.    Designed such  disclosure  controls and  procedures,  or caused such
            disclosure   controls  and  procedures  to  be  designed  under  our
            supervision,  to ensure that  material  information  relating to the
            Bank, including its consolidated  subsidiaries,  is made known to us
            by others within those entities,  particularly  during the period in
            which this report is being prepared;

      b.    Evaluated the  effectiveness of the Bank's  disclosure  controls and
            procedures  and presented in this report our  conclusions  about the
            effectiveness of the disclosure  controls and procedures,  as of the
            end of the period  covered by this report based on such  evaluation;
            and

      c.    Disclosed in this report any change in the Bank's  internal  control
            over financial  reporting that occurred during the period covered by
            the annual  report that has  materially  affected,  or is reasonably
            likely to  materially  affect,  the  Bank's  internal  control  over
            financial reporting; and

5.    The Bank's other certifying officer(s) and I have disclosed,  based on our
      most recent  evaluation of internal control over financial  reporting,  to
      the Bank's  auditors and the audit  committee of Bank's board of directors
      (or persons performing the equivalent function):

      a.    All significant  deficiencies and material  weaknesses in the design
            or operation of internal controls over financial reporting which are
            reasonably  likely to adversely affect the Bank's ability to record,
            process, summarize and report financial information; and

      b.    Any fraud,  whether or not  material,  that  involves  management or
            other  employees who have a significant  role in the Bank's internal
            control over financial reporting.

Date: June 26, 2005

                                                     /s/ Yakov Cohen
                                             --------------------------------
                                                       Yakov Cohen
                                                 Chief Financial Officer