BFF

Finance Minister Moshe Kachlon and Bank of Israel Governor Karnit Flug met today to discuss the problem of Israeli banking.

They talked about the 3 main banks who control 70% of the credit in the Israeli banking market.

They want to open more banks and create competition for the citizen and consumer.

Flug took a more cautionary tone, and added that the new banks will need to be monitored properly.

Kachlon's next target are the insurance and pension fund companies.