The Olam
reform programme

Va'adat Strum (Banking Concentration Committee)

The 2016 reform that forced Hapoalim and Leumi to spin off their credit-card subsidiaries (Isracard, CAL) to break banking-payments concentration.

Why it matters\n\nStrum is the most successful Israeli banking reform of the past decade. It created two new public companies (Isracard, CAL) and proved that structural reform of the duopoly is politically possible.