Israel regulator awards license to investors to set up new digital bank
Categories: Banking & Finance
Israel’s banking regulator approved a conditional license and control permit for a group of entrepreneurs to establish a new online bank, the second addition to the highly concentrated banking sector in three years.
Last January, One Zero Digital Bank received final regulatory approval for a full banking license, becoming the first new Israeli bank in 43 years.
Israel’s banking system is highly concentrated and run by a handful of banks, with the two largest controlling more than half the assets in the sector.
Read more in Jerusalem Post.
