May 30, 2018 / 9:08 AM / in 24 days

Israeli banking regulator to clear way for share buybacks

TEL AVIV, May 30 (Reuters) - Israel’s banking regulator is poised to publish a new policy that will allow the country’s banks to buy back their own shares in addition to making dividend payouts.

Hedva Ber, the supervisor of banks at the Bank of Israel, said the new policy should be in place around early July.

“I believe that most banks with capital buffers will use the buyback option once we publish it,” Ber told reporters.

Leumi, Israel’s second-largest bank, said last week that it would start a buyback programme after it received special regulatory permission.

Reporting by Steven Scheer Editing by David Goodman

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