Mizrahi - Tefahot gets pension license

About 10 months ago, Bank Igud received a license to market pension services, but only to private, not business, customers.

By MATTHEW KRIEGER
August 8, 2007 07:55

 
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Supervisor of Capital Markets, Savings and Insurance Yadin Antebi granted Mizrahi - Tefahot Bank Ltd. a license to begin offering pension advice to its customers, the first of the country's banks to be approved to sell full pension services. About 10 months ago, Bank Igud received a license to market pension services, but only to private, not business, customers. Mizrahi - Tefahot was granted the license only after Antebi confirmed that the bank completed the sale of its holdings in provident and mutual funds as stipulated by the Bachar capital market reform.

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