The banking industry veteran replaces Hedva Ber at the post; sees his role as ensuring stability of banks while boosting competition and digital development

Experts, MKs outraged as interest rates raised on loans and mortgages; banks say Israel not giving them enough cover as pandemic crisis adds to risk

Globes: Ber, the regulator of Israel's banks, has asked to step down from her position on April 15, 2020, after a term of close to five years

The approval marks the first time in 40 years a new bank will be set up in Israel; the plan is for a digital bank, without branches, that aims to compete with incumbent lenders