e-shekel
Proof of conceptIsrael
Central Bank(s)
Bank of Israel
Announcement Year
2017
Status
Proof of concept
Retail/Wholesale
Retail
Technology Provider
VMware
Technology
Quorum
DLT / non-DLT
DLT
The Bank of Israel is considering the issuance of a Central Bank Digital Currency (CBDC), and several variables will determine the Steering Committee's recommendation. One factor is the issuance of CBDCs by other countries. A decline in cash usage and an increase in electronic payment adoption may also prompt the need for a digital currency. The presence of stablecoins and the competition within the payment system will also be considered. Technological advancements could also lead to the need for a digital shekel. The Steering Committee will continually monitor these factors to determine whether to issue a digital currency in the future.
In November 2017, the Bank of Israel Governor Dr. Karnit Flug appointed a team to research the advantages and disadvantages of issuing a central bank digital currency. The findings of the team's research was published a year later, in November 2018, and recommended against issuing a digital currency in the near future. However, the team will continue to monitor significant developments with central bank digital currencies abroad, in order to be prepared to launch a currency, should it become necessary.
Link to announcement
Link to whitepaper
Last update: May 2026
May 2026
Link to announcement: web.archive.org
May 2025
Research → Proof of concept
Announcement Year: 2023 → 2017
Link to announcement: boi.org.il
March 2025
Link to announcement: boi.org.il
February 2025
Proof of concept → Research
Announcement Year: 2017 → 2023
Link to announcement: boi.org.il
November 2024
Link to announcement: www.boi.org.il
July 2024
Link to announcement: www.reuters.com
Link to announcement: www.boi.org.il
March 2024
Link to whitepaper: boi.org.il
Link to announcement: boi.org.il
June 2023
Link to announcement: boi.org.il
April 2023
Main motivation/goals of the CBDC: The main purpose of issuing digital currency is to maintain the public's access to a central bank's liability in the event that the use of cash declines significantly. → The Bank of Israel is considering the issuance of a Central Bank Digital Currency (CBDC), and several variables will determine the Steering Committee's recommendation. One factor is the issuance of CBDCs by other countries. A decline in cash usage and an increase in electronic payment adoption may also prompt the need for a digital currency. The presence of stablecoins and the competition within the payment system will also be considered. Technological advancements could also lead to the need for a digital shekel. The Steering Committee will continually monitor these factors to determine whether to issue a digital currency in the future.
Link to announcement: boi.org.il
June 2022
Research → Proof of concept
Technology Provider: VMware
Technology: Quorum
Retail/Wholesale: Retail, Wholesale → Retail
Link to announcement: www.boi.org.il
May 2022
DLT / non-DLT: DLT
Link to announcement: www.reuters.com
May 2021
None → Research
Announcement Year: 2017
Retail/Wholesale: Retail, Wholesale
Description: In November 2017, the Bank of Israel Governor Dr. Karnit Flug appointed a team to research the advantages and disadvantages of issuing a central bank digital currency. The findings of the team's research was published a year later, in November 2018, and recommended against issuing a digital currency in the near future. However, the team will continue to monitor significant developments with central bank digital currencies abroad, in order to be prepared to launch a currency, should it become necessary.
Main motivation/goals of the CBDC: The main purpose of issuing digital currency is to maintain the public's access to a central bank's liability in the event that the use of cash declines significantly.
Link to announcement: www.boi.org.ilnews.bitcoin.comwww.boi.org.il
Country / Region: Israel
Central Bank(s): Bank of Israel
No recent news found for this currency.