EXHIBIT 10.2



                            SECTION 906 CERTIFICATION
                            -------------------------

           (pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
                 Section 906 of the Sarbanes-Oxley Act of 2002)

         In connection with the Annual Report on Form 20-F for the fiscal year
ended December 31, 2002 of American Israeli Paper Mills Ltd. (the "Company") as
filed with the U.S. Securities and Exchange Commission (the "Commission") on the
date hereof (the "Report") and pursuant to 18 U.S.C. ss. 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, I, Israel Eldar Chief
Financial Officer of the Company, certify, that:

                  (1) the Report fully complies with the requirements of Section
         13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

                  (2) the information contained in the Report fairly presents,
         in all material respects, the financial condition and results of
         operations of the Company.

                                            /s/ Israel Eldar
                                            --------------------------------
                                            Name:    Israel Eldar
                                            Title:   Chief Financial Officer
                                            Date:    June 23, 2003

         A signed original of this written statement required by Section 906 has
been provided to American Israeli Paper Mills Ltd. and will be retained by
American Israeli Paper Mills Ltd. and furnished to the Securities and Exchange
Commission or its staff upon request.