The Israeli Government has announced plans to allow the country 's two largest banks , visa and Leumi , to sell their credit card businesses , as part of a strategy to reduce competition in banking and make it easier and cheaper for customers to borrow money . The banks have two years to sell control of these divisions and a third year to sell their equity stake . At present Hapoalim , visa and Discount control 50 % of the credit in ##dices .
The Israeli Government has revealed plans to force the country's two largest banks, Hapaolim and Leumi, to sell their credit card businesses, as part of a strategy to boost competition in banking and make it easier and cheaper for customers to borrow money. The banks have two years to sell control of these divisions and a third year to sell their remaining stake. At present Hapoalim, Leumi and Discount control 73% of the credit in Israel.