Bank of Israel​

Payment and Settlement Systems Department Director Oded Salomy said: “It is important to continue adding a variety of participants to the system. These new participants will contribute by increasing competition and reducing concentration in the market, developing advanced and innovative payment solutions, streamlining business processes and services, and lowering costs for consumers and merchants in Israel.”

A Banking Supervision Department examination showed that IsraCard uses a remote face-to-face identification and authentication technology for the purpose of opening an online account in order to provide loans and in order to provide settlement services to authorized merchants, without notifying the Banking Supervision Department as required by Section 76[1] of Proper Conduct of Banking Business Directive 367, and certainly without obtaining its approval as instructed in the Directive.

During the course of the first quarter, the shekel traded mixed. The shekel strengthened against the US dollar by approximately 1.5 percent and weakened against the euro by about 0.8 percent.

Israel’s foreign exchange reserves at the end of April 2024 stood at $208,109 million, a decrease of $5,632 million from their level at the end of the previous month

Bank of Israel Governor Prof. Amir Yaron returned to Israel from a trip to the United States.