Bank of Israel to offer banking licence to credit card companies
New entities will be allowed to operate with “more lenient” regulations, supervisor says
The Bank of Israel is preparing a programme that will provide bank licences to new entities, including credit card companies, supervisor of banks Daniel Hahiashvili said on May 21.
The programme will enable the companies to accept deposits and provide credit. The newly licensed firms will be subject to “more lenient” regulations, the supervisor said.
The banking supervision department of the central bank is working to encourage competition in the banking system, Hahiashvili said. This will involve
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