Bank Leumi and Israel Credit Cards agreement | August 2018
Partners Ofer Hanoh, Ido Amir and Adv. Tamir Lazarov represented Bank Leumi Le-Israel Ltd. in an agreement with Israel Credit Cards Ltd. (“ICC”) for the issuance and processing of charge cards.
The Strum reform compels Bank Leumi as at February 2019 to process its new credit cards business with at least 2 credit cards companies, where the share of each company shall not be higher than 52%.
In the process of implementing the Strum reform, Bank Leumi enagegd with ICC and Diners Club Israel (an ICC subsidiary) in an agreement for the issuance and processing of Visa, Mastercard and Diners cards.