Published On: Sun, Jun 22nd, 2014

Israeli Treasury Declare financial institutions quasi-public bodies

Sources believe that the proposal will find sweeping support in the Knesset.

Yair Lapid 500

The Ministry of Finance is examining steps to declare financial institutions that manage other people’s money as quasi-public bodies. Sources believe that if the cabinet approves the proposal and if legislative amendments are needed, they will find sweeping support in the Knesset, in the face of massive pressure by these institutions – banks, insurance companies, and investment houses, including through unions and professional associations.

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