As numerous other countries around the world, Israel has recently announced its intention to impose restrictions on the use of cashMoney in physical form such as banknotes and coins. More.
In his new report, former Director of the CurrencyThe money used in a particular country at a particular time, like dollar, yen, euro, etc., consisting of banknotes and coins, that does not require endorsement as a medium of exchange. More Department of the Bank of Israel, Mordechai Fein, analyses the implications and consequences of this decision starting from the need to review the country’s current tax system. He also states that these restrictions, instead of hurting the shadow economy and criminals, will especially affect the poorer and more vulnerable segments of the Israeli population.