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The Bank of Israel reduces its commissions

2007-11-15

The Bank of Israel reduces its commissions

The Bank of Israel announced yesterday, on its recommendations for limiting the number of bank commissions from 450 to 68 percent commission only. We must receive the endorsement recommendations of the Advisory Committee of the Bank of Israel Stanley Fischer commissions headed by the Governor of the Bank, and it is estimated that it will endorse those recommendations. Ronnie Hzkihw observer of banks for the Bank of Israel »new tariff« banks in a long series of commissions and the commissions they are supposed to collect from customers. One of the recommendations related to the itinerary of President abolish commissions established in banks, and after it became clear after the research conducted by the Bank of Israel that most customers who belong to the tracks practically pay much more than they must pay on each separately without track. It was also reported that the Bank of Israel transferred to the Advisory Committee on commissions uniform names of all commissions approved by the customer and thus can compare commissions in the various banks and the selection of the bank, which finds that it is appropriate to deal with it.
Started resolution observer banks still in the month of January last, after recognition Stanley Fischer Governor of the Bank of Israel is the same that did not manage to understand what the commissions they collect from it. The Knesset Economic Committee under the chairmanship of Knesset member Gilead Aaron on the formation of a parliamentary commission of inquiry to the issue of commissions banks headed by Knesset member Moshe Ekhalon and sincere Knesset eventually second and third on the Control Act of banking commissions, which links commissions banking observer banks in the Bank of Israel. According to estimates from the Bank of Israel to impose restrictions on the collection of commissions and the abolition of various tracks for Tax which comes despite the opposition of most banks will lead to lower profits of the banks hundreds of millions of shekels.