Israel's mortgage holiday extended

Yair Avidan / Photo: Rami Zarniger , PR

Supervisor of Banks: The aim is to help customers coping with the fallout of the crisis.

Israel's mortgage holiday, which was introduced because of the Covid-19 crisis in May, has again been extended, the Supervisor of Banks Yair Avidan has announced. The grace period for mortgage repayments and some consumer loans has been extended by another three months from December 31 until March 31, 2021. This follows concern that many Israelis remain either unemployed or furloughed and would be unable to meet their financial obligations.

The Bank of Israel noted today that unemployment was 23% in the first half of October during the second lockdown and that, "The available indicators regarding economic activity in October and November show that the adverse impact on economic activity as a result of the second lockdown was more moderate than the impact of the first lockdown, but as a result of the gradual exit, recovery in some of the industries has been slower than following the first lockdown."

The Supervisor of Banks said, "The aim is to help customers coping with the fallout of the crisis."

Published by Globes, Israel business news - en.globes.co.il - on November 30, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Yair Avidan / Photo: Rami Zarniger , PR
Yair Avidan / Photo: Rami Zarniger , PR
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