Knesset Member and Chairman of the Economy Committee, David Bitan, called today (Wednesday) during a debate in the Economy Committee, which dealt with the ownership of capital, for the Bank of Israel to allow credit card companies to raise cheap deposits from the public and for the credit companies to lower interest rates. Credit is more expensive, and the question based on the data is how to improve the sources of financing so that companies can compete with banks and reduce loans. If they receive financing from the banks, how can there be competition at all? There should be an agreement of the Bank of Israel, the Treasury and the Capital Market Authority to lower their costs. That's their job."

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Continuing his words, Bitan turned to the representatives of the credit card companies, saying that "they also need to lower interest rates and come towards the public". He further added that "all parties need to mobilize, and if the credit companies do not also take steps in the public interest – they will not be able to give loans at all and will not exist". According to him, the threat is two-sided, both for the Bank of Israel and the Treasury, but also for the credit companies that have to cooperate with the Bank of Israel.

At the end of the discussion, he announced that he was asking for solutions within 45 days, along with possible timetables for implementation. "We want answers regarding the credit card companies and also regarding the institutional bodies that will be able to give loans to the public," he concluded, "the definition of a bank should be clear, and if the law needs to be amended, bring an amendment to the law. If the credit companies do not cooperate, they will also be burdened. In the cost of living, we We will fight, take us seriously."