Financial sanction of NIS 1.5 million that was imposed on Max-it was reduced by 10%
Posted on Jun 1, 2019 by Ifi Reporter - Dan Bielski
On December 23, 1818, a decision was made to impose on Leumi Card, currently Max It Finance, a financial sanction in the amount of NIS 1.5 million.
The Company applied to the Supervisor of Banks for reconsideration of the aforementioned decision.
The Company sought to reduce the amount, inter alia, in view of Section 1 of the Banking Rules, which allows the amount of the fine to be reduced if the banking institution has not breached the provisions specified in the section in question in the past five years.
After further examination of the Company's request, the Bank of Israel decided to take into account that the previous violation of the company for which a financial sanction was imposed was made more than five years from the date of the violations.
As a result, it was decided to reduce the amount of the fine by ten percent and it will be concluded
At NIS 1,350,000.
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