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The Bank of Israel publishes the main points of the public’s response to the consultation concerning a potential digital shekel
09/05/2022 |
The Bank of Israel publishes the main points of the public’s response to the consultation concerning a potential digital shekel
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Public consultation on the technological specification of a digital debit payment instruction, a digital substitute for paper checks
23/03/2022 |
Public consultation on the technological specification of a digital debit payment instruction, a digital substitute for paper checks
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The potential effects on the Israeli banking system of issuing a digital shekel
02/03/2022 |
The Bank of Israel analyzed the potential impact of issuing a central bank digital currency on the stability of the banking system and its ability to continue fulfilling its financial intermediation function.
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Conference on developments in the payments system in Israel
01/03/2022 |
A virtual conference on developments in the payments landscape in Israel was held on Monday, February 28, 2022.
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The Bank of Israel is continuing to advance instant payments in Israel, and has instructed participants to prepare for receiving payment requests (R2P) by the end of 2023
28/02/2022 |
The Bank of Israel is continuing to advance instant payments in Israel, and has instructed participants to prepare for receiving payment requests (R2P) by the end of 2023
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Oded Salomy, Director of the Bank of Israel’s Payment and Settlement Systems Department, spoke at the annual directors’ conference
23/02/2022 |
Oded Salomy, Director of the Bank of Israel’s Payment and Settlement Systems Department, spoke at the annual directors’ conference
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The Bank of Israel’s position with regard to developments in the area of payments and digital wallets: Update following the completion of work by the internal committee on mobile payments
11/01/2022 |
The Bank of Israel’s position with regard to developments in the area of payments and digital wallets: Update following the completion of work by the internal committee on mobile payments
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Bank of Israel issues a Review of developments in the country’s payment systems landscape over recent years
28/12/2021 |
Dramatic growth in volumes of digital payments. In 2020, 51% of payment volumes were ACH wire transfers, comprised of direct credits (42%) and direct debits (9%). In addition, 31% of payment volumes were conducted via Zahav – Israel’s RTGS system
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Bank of Israel representatives participated in the Banking Law Conference
17/11/2021 |
The Banking Law Conference was held by the Israel Bar Association, and dealt with innovations, trends, and legislative initiatives in the banking field.
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Oded Salomy and Yoav Soffer Spoke at an International Fintech Conference
19/09/2021 |
Oded Salomy, Director of the Payment and Settlement Systems Department, and Yoav Soffer, Head of the Digital Shekel Project, Spoke at an International Fintech Conference
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Israel is switching to smart payment and concludes an additional step in integrating advanced payments
09/03/2021 |
• More than half the payment terminals in Israel support “smart payment ” • A quarter of the number of payment card transactions are carried out via “smart payment” • Approximately two-thirds of “smart payments” are contactless transactions.
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The Bank of Israel encourages participation in a global hackathon on the issue of cross-border payments
02/03/2021 |
The Bank of Israel encourages participation in a global hackathon on the issue of cross-border payments
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The Bank of Israel’s Position Regarding Developments in the Area of Payments and Digital Wallets
14/02/2021 |
The Bank of Israel’s Position Regarding Developments in the Area of Payments and Digital Wallets
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The Bank of Israel leaves the ceiling for making contactless payments at NIS 300
31/12/2020 |
The Bank of Israel leaves the ceiling for making contactless payments at NIS 300
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Review of the Promotion of an Immediate Payment Infrastructure in Israel’s Payment System
04/08/2020 |
The Bank of Israel is publishing a paper today on the promotion of an immediate payments infrastructure in Israel
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Toward the transition to payments using the EMV advanced payment standard: Raising public awareness of the ability to independently choose a personal PIN code for payment cards
20/07/2020 |
The Bank of Israel is working to advance the use of advanced means of payment, similar to many other countries.
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The payment system activity and Bank of Israel measures to enhance the stability and efficiency of the payments system
01/07/2020 |
The report presents the objectives and approaches of supervision of the payment systems, the main steps taken, and those planned for the future.
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Another step in advancing competition in the payments field – Opening access to the payments systems to new participants
03/06/2020 |
The Bank of Israel is working to advance competition in the payments field, and encourages the provision of access to the payments systems for new nonbank entities.
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Allocation of new identification codes to financial entities—credit card companies.
13/05/2020 |
Participants in the financial system in Israel are identified by an identification code that is unique to each entity (currently known as a “bank code”), which is comprised of two characters
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more about Allocation of new identification codes to financial entities—credit card companies.
Advancing contactless transactions at merchants that have converted to EMV: The Bank of Israel raises the contactless transaction ceiling to NIS 300
11/05/2020 |
Advancing contactless transactions at merchants that have converted to EMV: The Bank of Israel raises the contactless transaction ceiling to NIS 300
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Another step in opening access to the payments systems for nonbank entities, and increasing competition in the financial system: The policy and process of allocating identification codes to payment service providers has been completed.
07/05/2020 |
Further to the Bank of Israel’s announcement from August 7, 2019 regarding the allocation of an identification code to all payment service providers in the payments system
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more about Another step in opening access to the payments systems for nonbank entities, and increasing competition in the financial system: The policy and process of allocating identification codes to payment service providers has been completed.
The Bank of Israel increases the amount limitation for the deposit of a single check via mobile device from NIS 20,000 to NIS 50,000
26/03/2020 |
In order to help the public carry out remote banking activities in these times, the Bank of Israel has decided to increase the deposit amount for an individual check via the mobile device banking application to NIS 50,000, effective immediately.
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Ms. Irit Mendelson announces that she will step down from her position
01/12/2019 |
Ms. Irit Mendelson, Director of the Accounting, Payment and Settlement Systems Department, announces that she will step down from her position following eight years
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Allocation of identification codes for all payments service providers in the various payment systems
07/08/2019 |
Another step to increase competition in the financial system: Allocation of identification codes for all payments service providers in the various payment systems
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Special study day for the public on the Reducing the Use of Cash Law, as bank limitations on checks will come into force on July 1, 2019
13/06/2019 |
The Bank of Israel and the Israel Tax Authority held a special study day for the public on the Reducing the Use of Cash Law, as bank limitations on checks will come into force on July 1, 2019
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Study day regarding the Restricting the Use of Cash Law
06/06/2019 |
The Bank of Israel and the Israel Tax Authority invite the public to a study day regarding the Restricting the Use of Cash Law
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The Bank of Israel publishes its financial statements for 2018
24/03/2019 |
The Bank recorded a profit of approximately NIS 5.3 billion in 2018, compared with a loss of NIS 0.8 billion in 2017.
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Presentation of the new check format that will enter circulation during the year
17/01/2019 |
Remarks by the Director of the Accounting, Payment and Settlement Systems Department at the Chambers of Commerce conference: Presentation of the new check format that will enter circulation during the year
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The Bank of Israel’s activity in the area of advanced means of payment against the background of the Reducing the Use of Cash Law
23/12/2018 |
The Bank of Israel’s activity in the area of advanced means of payment against the background of the Reducing the Use of Cash Law
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The Bank of Israel publishes the main developments in the payment and settlement system for 2016–17
22/04/2018 |
The means of payment and payment system area is well into a business, regulatory and technological revolution, which will make them more advanced, more digital, user-friendly and accessible to both the general public and nonbank entities.
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Implementation of the Electronic Check Clearing Law has been completed – another step toward the world of advanced means of payment
27/11/2017 |
Implementation of the Electronic Check Clearing Law makes it possible to provide banking services that are less expensive, innovative, more convenience and quicker for customers.
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Public Consultation on the Establishment of an Infrastructure for Immediate Payment in Israel
15/11/2017 |
The public consultation is the first stage in a process of setting up an advanced, efficient and reliable infrastructure in the payment system in Israel
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Businesses can now choose the most appropriate merchant acquiring service for their needs and pay only for that service
09/08/2017 |
This measure was completed just prior to the transition to the EMV standard.
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Publication of Final Report of the Joint Committee for Promoting Use of Advanced Means of Payment in Israel
04/06/2017 |
Publication of Final Report of the Joint Committee for Promoting Use of Advanced Means of Payment in Israel
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The Bank of Israel publishes its financial statements for 2016
22/05/2017 |
The Bank of Israel’s balance sheet totaled about NIS 394 billion at the end of 2016, an increase of about NIS 25 billion (7 percent) compared with 2015.
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The Bank of Israel continues with measures to open the payment card market to competition
09/05/2017 |
This notice is an update to the public regarding the results of the operative measures taken thus far in implementing the protocol principles.
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The Payment and Settlement Systems Division publishes its Main Developments for 2015 and 2016
23/01/2017 |
In recent years there has been marked development of Israel’s payment system, primarily because innovative technologies make it possible to reduce transaction costs
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Beginning today, checks can be cleared electronically between banks through the mobile application
08/11/2016 |
The Electronic Check Clearing Law, which was passed by the Knesset in February 2016, enables the transition from physical check clearing to electronic clearing.
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The Committee for Promoting Use of Advanced Means of Payment publishes the Principles for payment services regulation
06/10/2016 |
Payment services regulation will enable nonbank entities to manage accounts for their customers and to provide them with payment services, including issuing means of payment, acquiring payment transactions and transferring funds.
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The Bank of Israel opens controlled payment systems to new players and publishes the terms of access to the systems
31/07/2016 |
Currently, payment systems in Israel only allow direct participation, and setting the terms of access is a significant step to adding indirect participants.
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