Regulatory Alerts2020-09-22
Additional Adjustments to Proper Conduct of Banking Business Directives for Dealing with the Coronavirus (Temporary Provision)
The Bank of Israel issued Circular no. C-06-2626 to modify Proper Conduct of Banking Business Directive no. 355, allowing banking corporations to operate via a reduced format in response to government restrictions on public movement. These adjustments, effective September 22, 2020, permit branches to function under specific health and safety conditions while requiring maximum efforts to respond to customer communications within a reasonable timeframe. The directive aims to ensure the continuity of banking services to the public and the protection of both customers and bank employees during the pandemic.
Share