Bank of Israel grants digital bank licence

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The Bank of Israel
David Vaaknin

The Bank of Israel has granted a licence for a digital bank to be established in the country, laying the groundwork for the creation of the first new bank for 40 years.

It said its banking supervision department carried out a “comprehensive process” of examining and challenging the business plan of entrepreneurs Marius Nacht and Amnon Shashua, and gave them the green light.

The proposed bank will have no branches, and will deliver banking services such as deposits, credit and securities

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