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Following the outbreak of the Swords of Iron war, the Bank of Israel formulated a program to assist in dealing with the impact of the war.  The program was adopted by the banks and the credit card companies.  As part of the program, those serving in the military reserves are eligible for leniencies and benefits in managing their households, as well as leniencies for business owners.  These include the deferral of loan repayments and exemption from fees, subject to the terms detailed in the program.  In order to strengthen public awareness and assist in the maximization of eligibilities for reserve soldiers, the Bank of Israel has prepared a dedicated information page containing details of the benefits in an accessible and convenient manner (attached in Hebrew).  In addition, the leniencies are published on the Bank of Israel website (in Hebrew) here for reserve soldiers, here for business owners, and here for other population groups.

The public awareness campaign that the Bank of Israel is conducting in conjunction with the Chief Reserve Officer’s Command includes a number of field visits with those serving in the reserves who have been released from service, in view of the importance of increasing their awareness of the benefits and leniencies for which they are eligible and mapping the needs in the field.  The activity is taking place as part of the release from service following many weeks of combat.

Bank of Israel representatives have met with soldiers during their release process in the various brigades, providing them with dedicated information on the rights and leniencies for which they are eligible as part of the program that was formulated to deal with the impact of the war.  Bank of Israel representatives, including from the Banking Supervision Department’s public enquiries unit have spoken with soldiers, explained their rights to them, handled anomalous cases, and worked to shorten the bureaucratic process with regard to enquiries to the banking system.

In addition, Bank of Israel representatives visited the rehabilitation unit at Sheba Hospital, Tel Hashomer, where they met soldiers who have been injured in the war and provided assistance to them.


Brigadier General Benny Ben-Ari, Chief Reserve Officer, said: “The connection and partnership with the Bank of Israel have brought a lot of value to soldiers who have returned from fighting and found an attentive ear and assistance wherever possible.  We hope for continued cooperation of this kind in the future.”


Supervisor of Banks Daniel Hahiashvili said: “The program formulated by the Banking Supervision Department and adopted by the banks and credit card companies includes leniencies for those serving in the reserves, and helps them deal with the financial effects of the war.  We will continue monitoring the data and the enquiries from the field, and will act to help wherever necessary.”


Head of the Bank of Israel Communications, Public Information, and Community Relations Division Nurit Felter-Eitan said: “Reserve soldiers are beginning to come back from the field and starting to deal with their financial affairs and assess the difficulties that arose during the war.  It is important for us to be there fore them, listen to their needs, and try to help them as much as we can.”

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