Barclays given Israel bank permit
bank of Israel Governor Stanley Fischer has awarded Barclays a banking licence and permit to open a branch, paving the way for the UK-listed bank to expand its investment banking and brokerage activities.
The move comes after Barclays last week applied to join the Tel Aviv Stock Exchange. It cannot become a TASE member, which would allow it to operate in the securities and brokerage fields, without a licence from the central bank.
The TASE has yet to approve Barclays’ application request.
Barclays would become the fifth foreign bank with branches in Israel, joining Citibank, HSBC, BNP Paribas and State Bank of India.
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Hide AdIt has had a representative office in Israel since 2008 – via US investment bank Lehman Brothers – and the permit to open a branch provides it with a platform to expand its banking activity in Israel.