Bank Hapoalim poses Thursday afternoon business as a condition for Friday closing. There will be no strike this Friday.
Bank of Israel is examining the possibility of declaring Thursday afternoons to be a business day, in lieu of Fridays. It is exploring this avenue in spite of the fact that the only bank to have reached an agreement with its employees for a 5-day work week is Bank Hapoalim. The proposal calls for the hours of 3 p.m. to 9:30 p.m. on Thursdays to be declared a business day, in lieu of Friday. The final decision will fall to Governor of the Bank of Israel Prof. Yaakov Frenkel, who is expected back in Israel tomorrow (Wednesday).
The Bank of Israel’s regulations enable amendment to be made to the Governor’s Rules establishing the definition of business days, only if 50% of the banking system signifies its consent. Examiner of Banks Zeev Abeles is taking steps to make such an amendment, even though the agreement for transition to a 5-day week has not been reached with the other banks. His object is to force the other banks to reach an agreement.
Only after the decision is reached to cancel Friday as a business day, does the Bank Hapoalim management intend to implement its agreement with its employees as to a transition to a 5-day week.
Bank Hapoalim has obtained approval to operate in a limited format on Fridays, and accordingly, the other banks will not strike this Friday.