Newsletter
Newsletter Support JNS

Report: Top Israeli banking executives to visit, advance business ties with UAE

“Recent diplomatic developments represent a unique opportunity,” says Bank Hapoalim CEO Dov Kotler.

Bank Hapoalim in Ra'anana, outside Tel Aviv. Credit: Ori via Wikimedia Commons.
Bank Hapoalim in Ra’anana, outside Tel Aviv. Credit: Ori via Wikimedia Commons.

Executives from Israel’s two largest banks are scheduled to head to the United Arab Emirates in the coming days to enhance business ties with their counterparts in the Gulf state.

A delegation from Bank Hapoalim, led by CEO Dov Kotler, plans to travel to the UAE on Tuesday, and a separate group from Bank Leumi, led by chairman of the board Samer Haj Yehia, is set to arrive there next week, Globes reported on Sunday.

According to the report, Bank Hapoalim’s Sept. 8 trip will constitute the first-ever official Israeli trade delegation to the UAE, which comes after the Sept. 1 signing of a memorandum of understanding in banking and finance between Jerusalem and Abu Dhabi.

“Recent diplomatic developments represent a unique opportunity to establish relations and economic cooperation between the countries and between their financial systems, which will result in economic growth for both sides,” said Kotler.

During their stay, the report noted, Kotler and accompanying business people will meet with bankers and senior government figures in Dubai and Abu Dhabi, “to establish direct connections and check out the possibility of joint ventures for investment in such areas as water desalination and solar energy.”

The UAE Central Bank, the Israeli Finance Ministry and relevant financial regulators in Israel agreed last week to lower financial impediments to investment, further cooperation in banking services and create the conditions for joint investments that satisfy international standards regarding money laundering and terrorism financing.

The U.S. president calls for calm as diplomatic efforts continue over Israel-Lebanon truce.
Runners from Israel and abroad join subdued race following Lebanon truce.
The victory of the 45-year-old lawyer is expected to end Hungary’s automatic veto of anti-Israel initiatives in the European Union.
The tally of Israel’s fallen since 1860 reaches 25,644.
Judges rule emergency measures imposed following deadly antisemitic shooting violated constitutional protections.
Funded by Jewish National Fund-USA, three organizations leverage their strengths to support Israeli communities.