Association of Foreign Banks in Israel president Charles Reisman: These are big, well-known and powerful names.
Three major international banks are interested in launching activity in Israel, Association of Foreign Banks in Israel president Charles Reisman told "Globes" today. He said one of the banks was American and the others were European. He declined to name the banks, saying only, "These are big, well-known and powerful names."
Reisman said representatives of the banks recently visited Israel and asked him about Israel and banking in the country. "There's room to make a lot of money in Israel and there are lot of interesting businesses, provided that Israel's credit rating - a matter of paramount importance for us - is not downgraded. Foreign banking activity is good for the local economy."
In response to a question what has to be done for foreign banks to launch activities in Israel, Reisman said, "In my opinion, a combination of factors are necessary: stability in the geopolitical situation; and an improved economic climate, especially a drop in unemployment, faster growth, and higher exports. The arrival of more foreign banks will be a positive and very important sign that Israel's economic situation is improving."
Published by Globes [online] - www.globes.co.il - on May 2, 2004