Digital shekel will compete with banks for deposits, payments: Bank of Israel
A digital shekel will force commercial lenders to up their game and offer better and cheaper services, according to the deputy governor of the Bank of Israel.
Latest Bank of Israel News
Israel proposes for digital shekel to bear interest
The Bank of Israel published a CBDC paper, which outlines a system in which CBDC wallets aren’t linked to banks and users can use a variety of PSPs.
BIS partners with Israel, Hong Kong for retail CBDC experiment
The Bank for International Settlements has announced a successful CBDC proof of concept—Project Sela—prioritizing inclusivity and privacy, poised to revolutionize CBDC services.
Bank of Israel explores options to boost adoption of proposed digital shekel
The Bank of Israel laid out several initiatives to trigger mass adoption of its digital shekel, including using the CBDC to settle taxes and pay salaries.
Bank of Israel weighs options for launching CBDC
Israel has decided against launching a digital shekel but remains open to its possible development, noting that global powers and the state of cash transactions could influence its future judgment.
Bank of Israel reveals plan for proposed stablecoin regulation, supervision
Israel's proposed legislations in regulating stablecoins include restricting algorithmic stablecoins and uncollateralized assets, as well as "borrowing" the EU's MiCA to supplement local laws.
Israel, Sweden, Norway collaborate on retail CBDCs to offer instant cross-border transactions
Retail CBDCs could solve cross-border friction, but Yaron admitted that several challenges remain, including enforcing AML rules and possibly pushing private operators out of business.
Israel’s chief economist recommends sweeping digital asset guidelines
Shira Greenberg called for wider powers to be given to the supervisor of financial service providers and opined to create an effective tax regime for the industry.
Israel central bank teams up with Hong Kong to test retail digital currency
Bank of Israel partnered with the Hong Kong Monetary Authority and the Bank for International Settlements to test the feasibility of a digital shekel for retail use.
Bank of Israel remains unsure of CBDC even amid public support
The public said that a digital shekel would reduce reliance on cash and advance the fintech industry, but the BOI has still not decided whether it will issue the CBDC.
Bank of Israel issues draft guidelines for digital asset AML, CFT
The central bank’s guidelines will potentially open up the banking system to the nascent sector, with banks not allowed to issue sweeping refusals to VASPs.
Israel is stepping up CBDC efforts, central bank governor says
Governor Amir Yaron considers central bank digital currencies are the future of finance and will give central banks an effective monetary policy tool as the payments paradigm shifts.