Economics Committee v. Bank of Israel – General

The Chairman of the Economics Committee, MK Yaakov Margi, sent an urgent letter to the Governor of the Bank of Israel, Prof. Amir Yaron, in light of the publications about the Bank of Israel’s intention to authorize Bank Hapoalim to deepen its hold on the payments market by issuing a credit card. Discount Bank, in the Bit payments app.

Chairman Margie, seeing increased competition in the banking industry as a key target since taking office, has made many efforts to promote legislation that will facilitate the transition between banks and encourage reform. Against this background, Margie writes to the Governor, The Supervisor of Banks is headed by you. ”

“Experience shows that without the active and dominant involvement of the Economics Committee, the Bank of Israel has difficulty promoting competition and fighting the duopoly.

“Due to the Corona crisis, I have agreed to postpone the reduction of credit card frameworks issued by the duopoly for a year, and to postpone the implementation of the six-year transition between banks. This agreement was preceded by hesitations. At that time, I come to the conclusion that the fear was justified. ”