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Limitations on the use of cash in Israel: A new law

Categories : Cash is available to all users, Cash is universal
June 11, 2018
Tags : Cash, inequality, Israel
Former Bank of Israel Currency Department Director, Mordechai Fein, looks at the evolution, passinga and consequences of the law for the limitation of cash usage.
Mordechai Fein

This post is also available in: Spanish

In his latest update on the limitations on the use of cash in Israel, Mordechai Fein analyses the new law that has finally passed after years of stagnation. Due to numerous oppositions to the legislation, particularly from religious communities that are generally poorer and concerned about their privacy, the original proposal has been greatly diluted.

By using the Israeli case, Fein concludes that all governments that are seeking to adopt limitations on cash usage should be careful about the manner in which the legislative process is carried out. Indeed, he warns, governments often fail to truly study the problem, the cause and the needs of the population, inevitably hurting the most vulnerable echelons of society: the poor and minorities. 

To read Fein’s full report, please download here below.

This post is also available in: Spanish