Establishing a New Bank in Israel
Categories: Banking & Finance
On June 3, 2018, the Bank of Israel (the “BoI”) published a circular (the “Circular”) detailing an updated simplified process for parties wishing to establish a new bank in Israel (the “Policy”). The Circular is the latest development in the ongoing reform of Israel’s banking sector, through which the relevant authorities are attempting to spur competition in the sector, limit the influence of Israel’s largest banks and reduce borrowing costs for the customer.
