A worldwide Orthodox Zionist organization founded in 1902. Also (occasionally) with plural agreement: the members or adherents of this organization.
In 1956 the Israeli Mizrachi party amalgamated with Hapoel Hamizrachi to form Mafdal, the National Religious Party.
Early 20th century; earliest use found in Zionist. From modern Hebrew Mizrāḥī from m, z, r, ḥ, and ī in merkāz rūḥānī spiritual centre, the notional full name of the organization (with reference to the movement's aim of establishing a Jewish state that would also provide a spiritual centre for the world's Jewry), punningly after post-biblical Hebrew mizrāḥī eastern (from Hebrew mizrāḥ + -ī suffix forming adjectives).