The bill still needs parliamentary approval. Israeli cabinet ministers have approved a plan to transform the Tel Aviv Stock Exchange ( TASE ) into a profit - making entity . Announced in 2014 , this new structure means that member companies and both Israeli and foreign banks such as Citicorp , Union Bank of Switzerland and Hong Kong and Shanghai Banking Corporation will become shareholders . According to Israel ’s Finance Minister Moshe Kahlon , this move should increase TASE ’s competitiveness , increase cooperation with foreign exchanges and put an end to Israeli banks ’ control over the exchange .
Israeli cabinet ministers have approved a plan to transform the Tel Aviv Stock Exchange ( TASE ) into a profit - making entity . Announced in 2014 , this new structure means that member companies and both Israeli and foreign banks such as Citicorp , Union Bank of Switzerland and Hong Kong and Shanghai Banking Corporation will become shareholders . According to Israel ’s Finance Minister Moshe Kahlon , this move should increase TASE ’s competitiveness , increase cooperation with foreign exchanges and put an end to Israeli banks ’ control over the exchange .