Banks in Israel Key Terms

Employ the banks in Israel key terms to help make banking assets allocation decisions

The banking system in Israel is similar to the one in the United States. Like the United States, there's a central bank and banking regulatory system that derives its authority from the Central bank and legislation. The banking system in Israel differs in the names and the functions of the various entities and banks in the system. Knowing these terms will help make asset allocation decisions easier and give you a basis on which to build further industry expertise.

Bank of Israel and The Supervisor of Banks

The primary regulators of the Israel banking system are the Bank of Israel and The Supervisor of Banks. The Bank of Israel issues currency, makes monetary policy, maintains economic stability and regulates the banking system. The Supervisor of Banks is the body that is responsible for actually regulating the industry and reports to the Bank of Israel.

Bank Hapoalim

The Bank Hapoalim is one of the largest private banks in Israel. Bank Hapoalim has offices in New York and London as well as Israel.

First International Bank of Israel

The First International Bank of Israel is the fifth largest banking group in Israel. It offers a full range of financial services and plans for international growth in the future.

General Agreement on Trade in Services

The General Agreement on Trade in Services is the governmental agreement between the United States and Israel. The purpose is to promote economic transactions between the two countries.

HSBC Private Bank

The HSBC Private Bank is one of the largest foreign banks in Israel. If you're new to the Israel banking industry, starting with a foreign bank that specializes in outside investment in Israel may be your best option.

Israeli New Shekel

The Israeli New Shekel is the primary currency in the state of Israel. It's also important to monitor the exchange rate of the Israeli New Shekel compared to the US dollar prior to making any deposits.