Regulatory Alerts2023-10-29
Adjustments to Proper Conduct of Banking Business Directives for the Swords of Iron War
The Banking Supervision Department of Israel issued a temporary directive easing regulatory burdens on banks and acquirers to support customers affected by the Swords of Iron War. The measures include flexible handling of public complaints, extended timelines for settling credit facility overruns, and authorized use of e-banking channels for urgent notifications. Additionally, the directive relaxes anti-money laundering identification requirements and raises transaction limits for war-relief fund transfers to facilitate rapid financial assistance.
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