Regulatory Alerts2024-06-17
Amendment to Proper Conduct of Banking Business Directive No. 411 Regarding New Immigrant Account Opening
The Banking Supervision Department of the Bank of Israel has amended Proper Conduct of Banking Business Directive No. 411 to extend a temporary relief for opening accounts based on New Immigrant certificates. This change replaces the previous expiration date of June 30, 2024, with December 31, 2024, in response to updated information from the Population and Immigration Authority. The amendment, effective July 1, 2024, was approved by the Governor after consultation with the Advisory Committee on Banking Business Affairs and does not require a regulatory impact report due to its immaterial compliance costs.
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