The Bank of Israel is today publishing a report presenting a comprehensive description of its supervision of the payment systems in Israel, as common in other countries. The report presents the objectives and approaches of supervision of the payment systems, the main steps taken, and those that are planned for the future.
The report describes the supervisory measures and controls that the Bank of Israel implements over the payment systems with the objective of maintaining the systems’ stability and efficiency. It focuses on payment systems that were declared, under the Payment Systems Law, as controlled systems.
The Bank of Israel ascribes great importance to public disclosure of the controls it implements, and will continue working to increase transparency and share with the public its activity in the payments system. In this context, we refer the public to the report’s chapter on payment system efficiency, which details the measures that have been taken in accordance with accepted international standards. These measures are essentially a reform in terms of access to the payment systems, with the aim of making it easier for new participants to enter the market in order to enhance competition in the entire payments system.
The report (in Hebrew) can be found here: