Israeli Banks Assess Proposed UK Sanctions After Legal Review

Israeli banks are assessing their exposure to proposed British sanctions after Herzog lawyers prepared an initial review for the Association of Banks. The assessment warns that future rules could affect institutions financing settlement expansion in Judea and Samaria, while foreign institutions could tighten transaction checks before legislation takes effect. Britain announced the proposed measures on September 8, with legislation expected within six to nine months. The Bank of Israel says the implications depend on the concrete measures adopted and that it remains in contact with commercial banks. The proposed sanctions have not been imposed on Israeli banks.