Bank of Israel accelerates work on CBDC

Central bank has been exploring pros and cons of issuing a digital shekel since 2017

Digital currencies

The Bank of Israel is accelerating its research and preparation work for the potential issuance of a central bank digital currency (CBDC).

On May 11, the BoI said it is developing an action plan so if benefits of a digital shekel outweigh risks in the future it will be ready to develop and launch a CBDC. The Israeli central bank has been actively examining this topic since 2017. However, its officials have not decided yet whether it will issue a CBDC.

In this regard, the BoI is in a similar

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