Payment system regulations and orders

On May 14, 2009, the Payment Systems (Notice of the Issue of an Order of Liquidation) Regulations, 5769–2009 were published.

Notice of an Order of Liquidation to the Bank of Israel Governor and to the Supervisor of Banks

“A Notice of Liquidation pursuant to Section 15 of the Law shall be seen as delivered to the Bank of Israel only if it is delivered to the office of the Bank of Israel Governor and to the office of the Supervisor of Banks at the Bank of Israel, immediately if the Order of Liquidation is given by hand or by fax, and provided that if it is given by fax, the Liquidator notifies the stated officials by phone once the notice is sent, that the notice has been sent to them by fax and a record of the conversation is made.”

The Regulations were published in Regulations File 6778, 5769 on May 14, 2009, Page 922.

To download the Payment Systems Regulations File (in Hebrew), click here.

On June 15, 2011, the Payment Systems (Maximum Reduction Rates on Monetary Sanction Amounts) Order, 5771–2011 was published.

The Order sets out the conditions under which the Bank of Israel Governor is permitted to lower a monetary sanction amount for a contravention committed by a payment system operator.

The Order was published in Regulations File 7004, 5771 (June 15, 2011), page 1036.

To download the Payment Systems (Maximum Reduction Rates on Monetary Sanction Amounts) Order (in Hebrew), click here.

On May 16, 2022, the Bank of Israel (Financial Entity) Order, 5782–2022 was published.

The Order defines an operator of a Controlled System, but its operation at an operator of such a system, as a financial entity.

The operator and Controlled Systems are as defined in the Payment Systems Law, 5768–2008.

The Order was published in Regulations File 10164, 5782 on May 18, 2022, page 2912.

To download the Bank of Israel (Financial Entity) Order (in Hebrew), click here.