Bank of Israel Grants Revolut Conditional Banking Licence to Boost Competition

Key Facts

The Bank of Israel issued a conditional banking licence to Revolut Group on November 10, 2026. The Paypers reported that the central bank also granted a permit for the group to control a bank, as part of a strategy to increase competition within the local financial sector.

This move is part of the central bank's broader effort to expand the domestic banking market, with the licence granted to Revolut marking the third new banking licence issued since 2019. This regulatory expansion reflects the financial authorities' objective to integrate global fintech firms into the traditional banking landscape.