Bank of Israel to intervene in banking service charges

The Bank of Israel will intervene in banking service charges, after the recent reform led to an increase, Army Radio reported Monday. Supervisor of Banks Rony Hizkiyahu said he would not accept the increase and would work to cut any unjustifiably high commissions. However, Hizkiyahu also said that reports claiming service charges had increased were wrong, as they had actually decreased in July. According to the Central Bureau of Statistics, service charges as a whole increased by 16 percent, following July's reform.