Most of the focus over the past year has been on the events of October 7 and the ensuing war. Not only the citizens, but also the legislative and regulatory authorities in Israel have been devoting most of their time to deal...more
As part of its actions to increase competition in the payments market, and alongside the entry into force of the Regulation of Payment Services and Payment Initiation Law, 2023, the Bank of Israel has opened access to...more
On June 6, 2024, the Regulation of Payment Services and Payment Initiation Law came into effect. Relevant entities may now submit license applications for providing payment and payment initiation services....more
One of the ramifications of the Israel-Hamas war is the growing interest of diaspora Jews and expat Israelis in immigrating to Israel. The National Insurance Institute and various government ministries grant a spectrum of...more
Israel’s financial regulatory authorities are regulating virtual currencies (cryptographic currencies) due to their steady increase in use. For example, the Capital Market, Insurance and Savings Authority (CMISA) issued an...more
The Bank of Israel published its latest annual review at the end of May. The review includes an announcement by Supervisor of Banks Yair Avidan that he is promoting the formulation of updated comprehensive regulations on...more
The Bank of Israel recently led several important developments in the Israeli payments market. These developments are designed to encourage competition in the payment services market and to advance the implementation of...more
Bank of Israel published a position paper with respect to the activity of banks’ payment apps (Pepper by Bank Leumi, Bit by Bank Poalim, and Paybox by Discount Bank) in the B2C market. The position paper is the conclusion of...more
The payment market in Israel and around the world is marching toward revolution: Facebook announced the launch of its digital currency, the Libra; Le’umi Bank entered into agreements with 400 businesses for acceptance of...more