developing· Economy· Updated
Digital Bank Revolut Receives Conditional License to Operate in Israel
The Bank of Israel has granted a conditional banking license to the global digital banking group Revolut to establish a bank in Israel. Announced on Tuesday, 10 November 2026, by Bank of Israel Governor Amir Yaron and Supervisor of Banks Daniel Hachashvili, the move aims to boost competition and diversify financial services in the local banking sector.
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What happened
- 01The Bank of Israel has granted a conditional banking license to the global digital banking group Revolut to establish a new bank in Israel.
- 02This is the third new banking license issued in Israel since December 2019, ending a 40-year period without any new banks.
- 03Governor Amir Yaron and Supervisor Daniel Hachashvili approved the license after a thorough review by the banking supervision department.
- 04The process was initiated in late 2022 when Governor Yaron met with Revolut's leadership in London to encourage their entry into the Israeli market.
- 05Revolut's controlling shareholder, Nikolai Storonsky, was officially informed of the decision on Tuesday, 10 November 2026.
- 06The license is conditional, requiring Revolut to meet further regulatory, technological, and operational milestones before fully launching to the public.
- 07The Bank of Israel will closely supervise the establishment process and will only lift the license restrictions once all conditions are met.
This is the third new banking license issued in Israel since December 2019, following a 40-year period without any new banks being established. The process began in late 2022 when Governor Yaron met with Revolut's leadership in London to encourage their entry into the Israeli market. Revolut's controlling shareholder, Nikolai Storonsky, was informed of the decision following a thorough review by the banking supervision department.
The license is conditional, meaning Revolut cannot yet operate fully with the public. The company must now meet a series of regulatory, technological, and operational milestones before the restrictions are lifted. The Bank of Israel's banking supervision department will closely monitor the establishment process to ensure compliance with all conditions for full license activation.
Summarized by baba from the reports of 4 newsrooms. Updated
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Digital Bank Revolut Receives Conditional License to Operate in Israel
