The cash law expands: these are the amounts that will be prohibited from holding

by time news

The proposal comes as an attempt to deal with the phenomenon of holding large sums of cash, which is prevalent mainly in Arab society and serves the criminal organizations in it. But much of Arab society is not run financially digitally due to lack of accessibility, and so in some parts of the country there are still people who run an economy based mainly on cash.

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Of course, where the state wants to eradicate the culture of large sums of cash, it must act to make Arab society accessible to digital banking. And while the digital bank is about to be set up soon, there are still sectors where even the regular bank app is not in use. At least with regard to the mortgage, an inter-ministerial team headed by Accountant General Yahli Rotenberg is examining the possibility of assisting mortgages to Arab citizens through a state guarantee.

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