News Column

The Supervisor of Banks Publishes a Series of Easing Measures for Bank Customers Along the Confrontation Line

July 9, 2014



JERUSALEM, July 9 -- The Bank of Israel issued the following news release:

The Supervisor of Banks, David Zaken, provided an update today, stating that Israel's banking system is operating in accordance with the Home Front Command guidelines. For updates on which branches are open and their operating hours, it is suggested to check on the front of the specific branch or on the bank's website.

In addition, the Banking Supervision Department announced a series of measures to ease the public's dealings with the banking system:

1. With regard to areas declared under a special situation, banks have been instructed, until further notice, not to restrict their customers or their accounts in the event of returned checks. The Supervisor of Banks acted with the authority granted him by the Checks without Cover Law, 5741-1981.

2. The Supervisor of Banks established that credit exceeding the approved credit framework will be granted to bank customers at the business discretion of the banks, and that limitations deriving from the Supervisor of Banks' directives on this matter have been temporarily suspended.

3. The Supervisor eased the process for customers to join the telephone instruction services. In accordance with this easing, customers are able to confirm their authorization to convey instructions via telephone through the banks' call centers, and confirmation of the customer's joining this service will be conveyed to the customer by SMS, email, or phone.

4. The Supervisor instructed to bolster the banking corporations' telephone call centers to the extent necessary, based on the number of actual calls received.

The easing measures of the Supervisor of Banks apply to customers who have accounts at bank branches that are located within 40 kilometers of the Gaza Strip. The measures are intended to ease conditions for citizens on the confrontation line in their day to day dealings during the state of emergency, and to prevent their facing difficulties in the current management of their accounts due to the current situation. The easing measures will be reviewed periodically and adjusted in accordance with developments and events.

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Source: Targeted News Service


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