Making the banking system more competitive is one of the major objectives of the Bank of Israel, and, I would assume, of every government in Israel. The Bachar Committee dealt with the issue of competition in the areas of credit and the capital market, and there is a need to increase competition in banking services provided to households and small businesses.
In this context, I would like to refer to the latest occurrence in which one bank increased its fees, and the other banks followed, creating a distinctly uncompetitive impression. It is not surprising, therefore, that the public and its representatives in the Knesset reacted critically as they did.