BOI becomes consumer-friendly

The Bank of Israel's office supervising the banking system had added a new Web page to the central bank's Internet site to provide consumers with information on banking.

By DANIEL KENNEMER
September 27, 2006 09:16

 
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The Bank of Israel's office supervising the banking system had added a new Web page to the central bank's Internet site to provide consumers with information on banking. "Wise consumer [behavior] is vital to increasing competition within the banking system and to improving the conditions offered to banking consumers," the supervisor's office said. Banking customers can visit the site (www.bankisrael.gov.il/deptdata/pikuah/publ_inq/pniyot.php) for information on bank accounts, deposits, credit limits, loans, credit cards, checks, commissions, mortgages and other topics. Detailed explanations would be accompanied by clarifications of various banking terms, practical advice, guidance on problems that may arise and examples in simple language, the central bank said. Particular attention is dedicated to the process of negotiating and taking out a mortgage, as well as possible changes in the loan thereafter, "since for the majority of households [their mortgage is their] biggest and most important financial affair," the bank added. Information on credit limits and switching banks given on the site will detail the recent reforms on the topics advanced by the central bank. An English version of the page was not yet available.

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