Bank of Israel challenges interim competition report
Karnit Flug warns of ‘marked risk’ to economic stability from some proposed measures
The Bank of Israel has challenged some of the interim recommendations made by a committee formed to promote competition in the Israeli banking system, warning they could be damaging.
The Strum Committee made a host of recommendations designed to promote competition in the retail credit market, including separating credit card companies from banks, prohibiting banks from issuing credit cards, improving technology, introducing deposit insurance and aligning payments regulation with international
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