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Israel’s Digital Shekel Plans Hinge on ECB’s Digital Currency Move

2024-07-11 by admin Leave a Comment

Israel's Digital Shekel Plans Hinged on ECB's Digital Currency Move

The Bank of Israel (BOI) is exploring a central bank digital currency (CBDC), a digital shekel, to modernize Israel’s payment system and drive innovation. However, BOI Deputy Governor Andrew Abir stated that the BOI is waiting for a major central bank, likely the European Central Bank (ECB), to introduce a digital currency before proceeding. This […]

ECB’s Joachim Nagel Urges Central Banks to Evolve: ‘We Need to Work on Our Business Model’

2024-05-09 by admin Leave a Comment

ECB's Joachim Nagel: Central Banks Must Evolve or Risk Obsolescence

Joachim Nagel, President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank (ECB), has raised concerns about central banks’ business model. “If part of your core product is loosening attractiveness then you have to think about another new core product,” he stressed. ‘We Need to Speed up on All […]