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:
https://boi.org.il/he/PaymentSystem/Documents/Payment%20systems%20oversight%20review%202016-2019.pdf