The Bank of Israel has announced its approval of a new digital bank, to be named ‘Bank Esh Israel’.
The bank was granted a conditional license from Bank of Israel Governor Professor Amir Yaron to establish the institution and permits under which to control the bank.
The holding permit was granted to Professor Shmuel Hauser, former chair of the Israel Real Estate Authority who is expected to become the chair of the new bank.
“We are excited to receive the bank’s license. We have a long way to go. The uniqueness of our bank is the synergy between technology and banking,” Hauser said.
“This is a groundbreaking Israeli technology, which allows for extraordinary operational efficiency that will be passed on directly to customers. This will be reflected in attractive interest rates, fee-free services, without subscription fees, and without preconditions such as salary transfer.”
The license was issued to the bank’s management team of Yuval Aloni, Nir Tzuk, Alex Libernet and Alone Shine.
Bank Esh Israel (BEI) is the second new bank approved this year in the Jewish State. The fully digital One Zero bank, which launched this past January, was the first Israeli bank to be established in more than 40 years.
