The Bank of Israel has established a joint team to promote advanced electronic means of payment

In accordance with the Locker Committee’s recommendations for reducing the use of cash, which were approved by the government in October 2014, a joint team was established which is tasked with promoting advanced electronic means of payment.

The team is headed by Ms. Irit Mendelson, Director of the Accounting, Payment and Settlement Systems Department at the Bank of Israel. Other team members include representatives of the Bank of Israel, the Prime Minister’s Office, the Ministry of Finance, the Israel Police, the Israel Tax Authority, the Israel Antitrust Authority, the National Cyber Bureaus, the Israel Money Laundering and Terror Financing Prohibition Authority, and the National Information Security Authority.

 

In recent meetings, team members heard reviews from various public entities operating in this field, and in the future the team will hear reviews from private sector functions operating in the field.

The team’s conclusions will be presented to a permanent committee, in line with the timetables set in those recommendations—three years from the determining date, which is June 2015.