Prime Minister Chairs Meeting to Address Shekel Crisis and Support Electronic Payment

SadaNews: With the participation of representatives from the Union of Commercial, Industrial, and Agricultural Chambers, the Association of Banks, and the Private Sector Coordinating Council, Prime Minister Dr. Mohammad Mustafa chaired a meeting of the special committee to address the ramifications of the shekel crisis and enhance the use of electronic payment methods. This committee also includes the Minister of Finance and Planning, the Minister of Industry, the Minister of Justice, the Minister of Communications and Digital Economy, the Ministry of National Economy, and the Governor of the Monetary Authority.

The Prime Minister emphasized the crucial importance of this committee, which brings together the public and private sectors as key partners in addressing the shekel accumulation crisis. He affirmed the necessity of studying the proposals submitted by the relevant authorities, particularly the insights and suggestions from the Monetary Authority to confront the current crisis and ensure the protection of the national economy.

The Prime Minister also briefed those present on the international efforts being made by the government with various parties to pressure the occupation to adhere to the laws and signed agreements.

The attendees discussed taking additional steps to enhance the transition towards electronic payment in several vital sectors as a strategic option to mitigate the shekel crisis and reduce reliance on cash, especially in sectors that involve large cash payments, alongside the government's direction to strengthen the transition towards electronic payment methods for settling all government service fees.

These steps come in light of the crisis resulting from the accumulation of large amounts of cash in shekels in the banks, and the Israeli side's refusal to transfer this surplus, which negatively impacted the banking sector's ability to manage cash liquidity and affected various economic activities.