The Bank of Israel is against the withdrawal of 200-shekel banknotes from circulation.

The Bank of Israel has rejected the idea of ​​withdrawing 200-shekel notes from circulation, supported by Prime Minister Netanyahu, due to a lack of professional justification. The head of the central bank does not agree with the measure, fearing a possible shortage of cash in the country.

The order to prepare for the withdrawal of these notes was given by Netanyahu on September 19, 2024, as part of a plan to combat shadow capital. Israeli authorities claim that about NIS 500 million of illegal funds are in circulation in the form of NIS 200 notes.

According to Ynet economic commentator Gad Lior, if the process does begin, the replacement of banknotes will be limited to a few days to prevent the exchange of black capital for cash.