Kahlon to target more competitive banking

March 18, 2015 3:58 PM

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Kahlon to target more competitive banking

After housing, banking is the main economic issue on which Kulanu Party leader and likely next Minister of Finance Moshe Kahlon focused in the run-up to the elections. Kulanu's platform and proposals for changes in banking were the most detailed and serious of all the parties. In the tension between supervision and competition, Kahlon leans heavily towards the latter. He believes that action should be taken to bolster competition between the banks, and that this is the only way to achieve a substantial drop in costs for consumers.

Kahlon believes that in the long term, competition will only strengthen the banks, increase their profitability, and reduce the "too big to fail" risk. He frequently uses an example from his period as Minister of Communications - how he was right when he rejected the proposal by the owners of the ce...

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