Bank of Israel creates centre to boost fintech

David Vaaknin

The Bank of Israel has created an assistance centre for fintech companies, which it said was inspired by a similar initiative developed by the Hong Kong Monetary Authority. On October 6, the central bank announced the centre was operational. The Bank of Israel said the new centre aims to assist financial technology companies that experience difficulties working with commercial banks.  

These difficulties have been mostly related to compliance. The centre intends to explain regulatory

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