‘Today, Peace Is Being Signed Mainly for Economic Reasons,’ Says CEO Of Top Israeli Bank

Israel’s Prime Minister Benjamin Netanyahu, US President Donald Trump and United Arab Emirates (UAE) Foreign Minister Abdullah bin Zayed display their copies of signed agreements as they participate in the signing ceremony of the Abraham Accords, normalizing relations between Israel and some of its Middle East neighbors, in a strategic realignment of Middle Eastern countries against Iran, on the South Lawn of the White House in Washington, US, September 15, 2020. Photo: REUTERS/Tom Brenner.

CTech – Whereas history has shown ties between nations are usually formed due to security or defense, Bank Leumi CEO Hanan Friedman, speaking on the morning of the first summit dedicated to enhancing relations between Israel and the UAE, highlighted the economic value that these two nations can share with one another.

“Developing economic ties between Israel and the United Arab Emirates will open trade channels with other Gulf countries and with African countries, and will affect relations throughout the Middle East,” he said.

It is unsurprising that Friedman, who has been CEO of one of Israel’s largest banks since August 2019, would highlight the economic elements of peace brought on by the Abraham Accords.

“If in the past peace agreements were signed between neighboring countries in order to achieve protection and security, today peace is being signed mainly for economic reasons,” he stated.


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