Supervision and Regulation
The Bank of Israel supervises Israeli banks via the Supervisor of Banks. The tasks and authority of the Supervisor of Banks are based on several laws:
- The Banking Ordinance, 1941, a Mandatory ordinance which has been amended and updated over the years;
- The Banking (Licensing) Law, 1981;
- The Banking (Service to Customers) Law, 1981;
- The Checks Without Cover (bad checks) Law, 1981.
Read more about this topic: Banking In Israel
Famous quotes containing the word regulation:
“Nothing can be more real, or concern us more, than our own sentiments of pleasure and uneasiness; and if these be favourable to virtue and unfavourable to vice, no more can be requisite to the regulation of our conduct and behavior.”
—David Hume (1711–1776)