One Zero Digital Bank has received final regulatory approval for a full banking licence, the Bank of Israel said on Monday, becoming the first new Israeli bank in 43 years.
Having gained a restricted licence in December 2019, One Zero operated on a trial basis initially but has now met all criteria, including raising the necessary capital.
One Zero’s status is now the same as all the other banks in Israel, supervised by the Bank of Israel’s Banking Supervision Department to ensure its stability and to protect the money of its depositors, the Bank of Israel said.
– Reuters