One of the priorities of monetary agencies in Western countries today is preventing money laundering, which includes compelling a greater use of digital funds, with the latter facilitating leaving a paper trail.
In Israel, the treasury is working in earnest to minimize money laundering and one new measure taken is monitoring of chareidi gemachs. The gemachs that exist in the chareidi community for many is the difference between making a family simcha or not, or getting though yomim tovim or other times of life with added expense. However, new government-imposed regulations and restrictions may compel some gemachs to shut down.
The Finance Ministry is pushing a bill that would result in the creation of a government agency that will oversee the operations of gemachs.
(YWN – Israel Desk, Jerusalem)