A new digital bank? This is a PR exercise
The regulatory burden in Israel serves the big banks and does not allow credit companies to grow. A new digital bank? It seems that the recent announcement by the Bank of Israel and the Banking Supervisor about the establishment of a new digital bank is nothing more than a sophisticated and cynical public relations exercise at the public’s expense. Furthermore, the decision to reduce the equity threshold from 300-400 million shekels to just 50 million shekels proves that the goal behind the move was to generate headlines under the guise of “encouraging competition.”