Former 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 Director of the Bank of Israel, Mordechai Fein, analyses the continuing struggle to limit the use of cashMoney in physical form such as banknotes and coins. More in Israel – a project initiated by a committee headed by the Director General of the Office of the Prime Minister back in 2014 and supported by the Ministry of Finance. The bill was submitted to the Israeli parliament, the Knesset, in July 2015, and has not evolved since.
As presented in his article here below, the reasons for the standstill are due not to a lack of time, as previously stated, but by an internal struggle within the Knesset. Indeed, the reasons are slowly coming to surface and entering the public sphere casting a doubt on the likelihood of the initiative ever becoming law.
Given the strong opposition to the bill by the main two religious parties – and their swing vote role in the coalition – it now seems highly unlikely that the bill will pass at all.