Israeli banks could be forced to provide their customers with an "annual report" on the state of their finances if a new directive, submitted to the Israeli parliament earlier this week, comes into force.

The draft directive, submitted by the Bank of Israel's director of bank supervision David Zaken, would require banks to compile a "uniform and clear" report of their customer's assets and liabilities, incomes and expense, and credit rating once a year.

The Bank of Israel says the directive is