A couple of years ago the State passed new laws to limit the use of cash, as the trend is going around the world to prevent money laundering and tax evasion, At the time I said cash is no longer king.

Well, now cash is no longer even a prince.

According to Globes, the Finance Minister, Yaakov Katz, has decided to further limit transactions in cash and cut the limits by a lot!

According to the new limits, businesses will be able to process cash transactions with a limit of 6000nis, down from 11,000nis. Individuals will be allowed to handle cash up to 15,000nis instead of 50000nis.

Katz's decision needs to be approved by the Finance Committee still, s we'll see what happens, but plan accordingly.