In an era of dynamic customer needs and growing societal diversity, the American banking industry is experiencing a seismic shift. Valley National Bank, a prominent financial institution with over 230 branches predominantly in New York and New Jersey, has made an historic leap forward in serving its diverse clientele. In an emphatic show of support for its Jewish customers, Valley National Bank has now joined the fast-growing league of kosher banks certified by the KFI (Kosher Financial Institute), by unanimously voting to adopt a Heter Iska. This pivotal decision came to light after weeks of detailed discussions between the KFI and Valleyn National Bank’s legal counsel, culminating in a signed resolution from the bank’s Executive Vice President and Corporate Secretary, Gary Micheal. The move sets a new milestone within the Jewish community, particularly for businesses and individuals requiring commercial loans. Avi Grunwald, CEO of the KFI, highlights the significance of this new development, stating, “My vision is to see kosher banking become the standard across the United States.” His mission is rapidly gathering momentum as a growing number of financial institutions are recognizing the crucial role of faith-based lending services in today’s diverse society. (YWN World Headquarters – NYC)

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