Story perspectives

Bank of Israel urged to scrutinize foreign-workers commissions

9/10/2026

Summary

Story summary

Hila Ben Itzhak, CEO of the Foreign Manpower Corporations Association, appealed to the Bank of Israel to investigate banks' commissions.
Undocumented foreign workers in Israel transfer about NIS 1 billion of black money each year through banks and exchanges.
Employers avoid reporting roughly NIS 1 billion annually, reducing income tax, National Insurance, levies and health taxes.
Foreign manpower corporations urged the Supervisor of Banks to require banks to record foreign workers’ valid stay permits.
Undocumented workers send roughly NIS 450 million abroad each month, unreported.

1 of 1

Story summary

Hila Ben Itzhak, CEO of the Foreign Manpower Corporations Association, appealed to the Bank of Israel to investigate banks' commissions.
Undocumented foreign workers in Israel transfer about NIS 1 billion of black money each year through banks and exchanges.
Employers avoid reporting roughly NIS 1 billion annually, reducing income tax, National Insurance, levies and health taxes.
Foreign manpower corporations urged the Supervisor of Banks to require banks to record foreign workers’ valid stay permits.
Undocumented workers send roughly NIS 450 million abroad each month, unreported.