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Payment and settlement systems in Israel |
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Between 2004 and 2007, there was a comprehensive reform of the payment and settlement systems, including the TASE Clearing Houses, check clearing and Masav. In July 2007, a new payments system, the Zahav system was launched, which meets international standards and which brought Israeli financial infrastructure to an advanced international level. Development of the new system and legislation of the Payments Systems Law, 5768-2008, also helped the shekel join the trade in the CLS bank.
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These and other measures, which were completed in May 2008, helped improve the stability of the local financial infrastructure, allowing foreign and local entities to continue to perform transactions in the shekel and between the shekel and other currencies immediately, finally and safely, even when the global financial crisis became more severe in September 2008.
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General Information
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Zahav system
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The Banks' Clearing House (The Paper Clearing House and Masav) |
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Tel Aviv Stock Exchange Clearing Houses (TASE)
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CLS—Continuous Linked Settlement
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Information on the principal means of payment in Israel |
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Conferences |
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Zahav system—
information brochure
(hebrew only)
You can download the file with the information about the Zahav system
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How and when is
the Zahav system used?
(hebrew only)
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For additional information,
contact us
For any question or clarification,
contact us at:
infozahav@boi.org.il
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