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The Banking Supervision Department today held a professional conference on “Banking Fairness” at the Heth Center for the Study of Competition and Regulation at the College of Management in Rishon LeZion.
The conference was intended to deepen the professional discussion around the concept of “banking fairness” in the banking system’s interactions with its customers, and to highlight it as a guiding principle in the operation of the modern financial system.
Supervisor of Banks Daniel Hahiashvili said: “The Banking Supervision Department’s vision is to promote the public good by safeguarding the stability and fairness of the banking system through professional, leading, and transparent supervision. Fairness is a fundamental principle in the banking system’s activity, and I see great importance in professional dialogue that is translated into decision-making processes, the design of banking products and services, and the day-to-day conduct of the banking system in its dealings with customers. There are many important processes in the area of banking fairness that should be preserved, and there are also quite a few processes that need improvement. We will continue to monitor, initiate, and act in this area on an ongoing basis.”
The conference addressed the various dimensions of fairness in the banking system, incorporating legal, regulatory, economic, and public perspectives. Speakers at the event included Supervisor of Banks Daniel Hahiashvili, who emphasized how the vision of supervision is being implemented in practice, and Supreme Court Justice Professor Ofer Grosskopf, who highlighted the role of law and regulation in shaping standards of fairness. Senior figures from the fields of regulation, banking, law, communications, and academia also took part.
The panels and lectures covered topics such as the development of the concept of banking fairness, international policy and trends in this area, the balance between business profitability and commitment to customers, the role of law and regulation in shaping standards of fairness, and public perceptions of the fairness of the banking system.
The conference is part of a broader effort led by the Banking Supervision Department to strengthen fairness in the banking system, based on the view that shaping the discussion today is essential to creating the standards, norms, and public trust that will guide banking discourse and activity in the future.