Bank Of Israel Indecisive On Digital Shekel

Israel’s central bank says it had received public support for its plans to possibly issue a digital shekel on grounds it would help the economy by supporting innovation in the payments system, reducing the amount of cash and bolstering the fintech sector. <br />The Bank of Israel says a digital shekel was unlikely to significantly erode the banking system’s business results. <br />The central bank however says all of the responses to the public consultation indicate support for continued research regarding the various implications on the payments market, financial and monetary stability, legal and technological issues, and more.