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Limitations on the use of cash: The Israeli case

Categories : Cash is trust
November 23, 2016
Published in : Fraud, Israel, Middle East, poverty, Tax evasion, Unbanked
Former Director of the Currency Department of the Bank of Israel, Mordechai Fein, looks into Israel's decision to impose cash use restrictions and explores its implications.

As numerous other countries around the world, Israel has recently announced its intention to impose restrictions on the use of cash.

In his new report, former Director of the Currency 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.

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