Dec 25, 2022

Israel regulator awards license to investors to set up new digital bank

Posted by in category: finance

Israel’s banking regulator on Sunday 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.

The Bank of Israel said its banking supervision department had completed the inspection process for the new institution named Esh Bank Israel.

The approvals, it said, will allow the founders to move forward and complete the mechanical, operational and regulatory preparations required for the start of the bank’s activities.

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