Bill to Reduce the Use of Cash (Amendment No. 2) (Restriction on Providing Cash Loans by Regulated Financial Entities), 5784-2024

The proposed bill is intended to reduce the use of cash by regulated financial entities. Currently, the existing law exempts these entities from the restriction on providing cash loans in an amount exceeding 6,000 New Israeli Shekels. The proposed amendment repeals this exemption, so that regulated financial entities will also be unable to provide cash loans in an amount exceeding 6,000 New Israeli Shekels. The purpose of the amendment is to prevent the use of cash for criminal purposes and to limit the possibility of money laundering. The amendment is expected to enter into force starting in 2024.

Source: הצעת חוק לקריאה הראשונה