A new Israeli government committee has 90 days to present to Prime Minister Binyamin Netanyahu ideas on how to implement a more cashless society, with free electronic charge cards to replace cash transactions in a war against the “underground” economy.”
The cash cards, unlike credit cards, will be available to poor people on welfare or who have no bank accounts.
“It is estimated that billions of shekels in the economy are not taxed, which means that the public does not benefit from them,” said Harel Locker, who will chair the committee while remaining as director of the Office of the Prime Minister.
Police officials say that a more cashless society will help decrease money laundering and the underworld’s use of cash to finance crime.
Several European countries already have adopted policies to limit cash transactions, and the United States requires citizens to report all cash transactions exceeding $10,000.
About the Author: JewishPress.com brings you the latest in Jewish news from around the world. Stay up to date by following up on Facebook and Twitter. Do you have something noteworthy to report? Submit your news story to us here.
If you don't see your comment after publishing it, refresh the page.
Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.
If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.