The Supervisor of Banks has imposed a civil fine on Bank Mizrahi-Tefahot totaling NIS 172,588 due to the bank’s holding of means of control of a significant nonfinancial corporation at a rate exceeding the rate permitted pursuant to Section 24a of the Banking (Licensing) Law.
An excerpt from the decision, detailing the contravention that was identified and the considerations behind the imposition of the civil fine and its reduction, is attached below.