Each banking institution or credit card company operating in Israel has a two-digit number, which is its symbol when connected to the MASAB interbank transaction system.
Currently, 44 values are already occupied (the number is not only for Israeli banks, but also for Palestinian Authority banks, as well as foreign banks operating in Israel or the Palestinian Authority, such as Jordan-Kuwait Bank, State Bank of India, Egyptian Arab Land Bank, etc.).
The Bank of Israel has announced its intention to convert bank codes to three-digit ones, which will significantly increase the number of potential connections to MASAB.
The move will allow non-banks, including local and international fintech companies, to act as direct participants in payment systems alongside banks and allow them to offer a wide range of financial services to the Israeli public.
The Bank of Israel will publish a timetable for implementing the identification code extension during 2026.