© REUTERS Are you afraid of the money escaping? The Bank of Israel is increasing the monitoring of the transfer of funds abroad
| Sonia Gorodisky, Israel Hayom |
The effect of the fear of economic damage following the legal reform: the Bank of Israel increases the monitoring of money transfers abroad and instructed the banks to report to it on a weekly basis about the departure of funds from the country, instead of on a monthly basis as was the case before.
The instruction was sent to the banks in recent days by the Banking Supervision Unit.
The Bank of Israel says that the bank “does not remain silent on its guard” and wants to have as much information as possible.
The Bank of Israel still says that there have been no unusual movements of outflow of funds abroad following the fears of the legal reform.
MK Naama Lazimi from the Labor Party responded to the Bank of Israel’s move:
“The Bank of Israel continues to take steps that teach about the economic dangers of the regime coup. The banks warn of a reduction in investments in the Israeli market, international companies are withdrawing their money from Israel, the exchange rate rises and falls in an alarming and unstable manner and the government continues to act irresponsibly. We will not let them destroy Israel’s economy, we will continue To fight both in the Knesset and outside it.”
Read the full article on the Israel Today website