Bank of Israel could allow banks to list on Wall Street

The Bank of Israel is proposing to allow banks to publish financial statements according to US accounting principles, which would enable them to list on Wall Street. The move could boost bank shares, which rose about 10% in July. A market source called the step welcome for the Israeli economy.

The Bank of Israel is proposing to allow Israeli banks to publish financial statements according to US accounting principles, a move that would enable them to list for trading on Wall Street. This was revealed in a memo distributed by the Supervisor of Banks to Israel's banks yesterday, according to "Globes." The change could increase the tradability of shares, attract foreign investors, and boost the shares of banks that choose this track. Bank shares have been fluctuating since the beginning of the year, but in July they led the indices with a rise of about 10%. A market source told "Globes" that Israeli banks are currently of interest to US investors, have made great progress in management in recent years, and the banking system, especially during the war, is presenting phenomenal results. The source called the Bank of Israel's step very welcome for the Israeli economy and banking in general.