Regulatory Alerts2017-03-06
Added
Proper Conduct of Banking Business Directive No. 367: E-Banking Amendments
The Bank of Israel amends Proper Conduct of Banking Business Directive No. 367 to allow banking corporations to sign up customers remotely for E-Banking services using leniencies regarding customer identification, as detailed in the new Appendix A. The directive adds Appendix B to permit the opening and management of long-term savings accounts for children based on data from the National Insurance Institute, granting specific reliefs on identification. Section 31 is revised to permit banking corporations to offer bundled communication channels in E-Banking agreements, provided customers can deselect unwanted options. These amendments take effect upon publication.