Netanyahu coalition delays vote on bank bill after central bank chief alarm

Prime Minister Benjamin Netanyahu’s ruling coalition postponed a preliminary parliament vote on Wednesday on a bill that the central bank chief had said would threaten the Bank of Israel’s independence.
Yinon Azulay, the parliament member who proposed the bill, which would force banks to pay interest on checking accounts and give final approval on setting the rate to the finance minister, said the vote would take place next week instead.
Azulay said that after consultations with Netanyahu, he had decided to put the vote off in order to give the banks time to respond to a request made to them by Bank of Israel Governor Amir Yaron to improve consumer interest rates.
Azulay’s bill, aimed at benefiting the public amid a sharp jump in interest rates on loans, won the government’s backing on Sunday and was due to go to a preliminary vote in parliament on Wednesday before review, possible changes and three more votes.