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JERUSALEM, Sept 12 - Israel's central bank is pushing forward with plans to issue a digital shekel, citing the need to improve the country's payment systems, but on Tuesday remained noncommittal on whether one would be launched.
"Whether or not we will issue a digital shekel is still an open question, as it is in most if not all other advanced economies," Bank of Israel Governor Amir Yaron said at a conference on digital currencies. Israel's central bank has been experimenting with a digital shekel with its Hong Kong counterpart and the Bank for International Settlements. It said the so-called Sela project has proven the feasibility of a retail CBDC and combines"combines accessibility, competition and preventative cyber security, while retaining key advantages of physical cash".
Deputy Governor Andrew Abir said that for Israel, issuing a digital shekel would provide more competition in a financial system dominated by a few large banks and institutions.
France Dernières Nouvelles, France Actualités
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