The Oversight Approach
The Payment Systems Oversight Division works under an approach that balances the need to maintain the stability of the payment systems with the need to promote the efficiency of the systems’ activity and of means of payment, for the benefit of the economy and the public.
The Oversight Division will examine and assess each payment system with regard to its risk profile, while at the same time it will act via a holistic approach vis-à-vis the overall payments system.
Accordingly, the Oversight Division will determine the instructions applicable to the controlled payment systems together and separately.
The payment systems oversight operates through values-based work and emphasizes, among other things, the following values:
Transparency: The work of the Payment Systems Oversight will be carried out with transparency toward the market and to that end the oversight function will publish policy documents, opinions, and periodic reports on our activity;
Professionalism: The Oversight Division’s work will be carried out professionally, regarding every topic and every issue that reaches our desk. To that end, the Oversight Division will examine, as part of its work, various alternatives for each solution, costs, and will carry out an international review;
Consultation: Taking into account priorities and needs of the market and its participants;
Being a market leader;
Promotion of the needs of the market and its participants.