36.2 C
Dubai
Friday, May 17, 2024
spot_img

World News | Israeli Finance Minister Smotridge wants foreign banks to compete at home

[ad_1]

representative image

Tel Aviv [Israel]July 4 (ANI/TPS): Israel’s finance minister wants to increase competition in the country’s banking sector by opening the market to foreign banks. For this, Smotridge is looking to two international banks.

“Israel’s banking system is one of the most centralized in the world,” he told the Knesset. “This is reflected in the scope of services, credit lines, quality of service and cost of service.”

Read also | FM Melanie Jolly said the posters portrayed Indian diplomats as “killers”: the actions of a few do not represent the community or Canada as a whole.

“Ultimately, the real solution to banking’s problems is competition,” Smotridge added. “Since we can’t wait for complex competition to develop because people are ‘choking’ today, we are already taking various actions ourselves.”

For years, Israelis have complained about the high fees charged by banks for almost everything, such as the cost of owning an ATM card, the cost of each cash withdrawal from an ATM, the cost of depositing cash, and so on. (ANI/TPS)

Read also | SCO Summit 2023: Prime Minister Narendra Modi will chair the virtual summit of the Shanghai Cooperation Organization today, with Pakistani Prime Minister Sheikh Baz Sharif and Chinese President Xi Jinping in attendance.

(This is an unedited and auto-generated story from a syndicated news feed, the latest staff may not have modified or edited the body of content)


[ad_2]

Source link

Related Articles

Saudi Arabia Implements Tax Exemption for Duty-Free Stores, Following Approval

Saudi Arabia Implements Tax Exemption for Duty-Free Stores, Following Approval In a significant development, Saudi Arabia has approved a tax exemption policy for duty-free stores...

SGX FX partners with Rand Merchant Bank (RMB) as its newest liquidity provider

SGX FX partners with Rand Merchant Bank (RMB) as its newest liquidity provider 16th May 2024, SGX FX, through its eFX trading solutions platform for global...

Biden Trade Resolve: US Imposes Major Tariffs on China Imports, Continuing Economic Vigor.

Biden Administration Takes Firm Stance on Trade: Imposes Major Tariffs on China Imports In a significant move signaling the Biden administration's resolve on trade issues,...

India Restores Diplomatic Immunity to Canadian Province Trade Representative

India Restores Diplomatic Immunity to Canadian Province Trade Representative The decision by India to restore diplomatic immunity to a Canadian province trade representative marks a...

Fahd Khatri: Pioneering Terracotta Artisanship and Sustainable Living in Dubai

In the bustling metropolis of Dubai, Fahd Khatri, the founder of ARK Naturals, is redefining luxury with a touch of the earth's oldest crafts....

Latest Articles