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"This is a catastrophe": Senior regulators reveal the price of no budget

We could tell you about the deal of political appointments approved by the government, the ministers who boycotted the yeshiva or the recent polls.

Instead we decided to bring two monologues from two senior regulators who tell Globes, anonymously and frankly, what non-functioning government ministries look like.

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• Benjamin Netanyahu

• Bnei Gantz

• Israel Katz

Globes

Monday, 23 November 2020, 05:53

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A financial regulator is in place: "We are accumulating a delay of two years, and at the level of the financial worlds it is a catastrophe. For annual fintechs it is existential, they are leaving the country."

"We've been living with a budget of 1/12 for a year, which is basically being without a budget. We have no money for anything. We agree to pay salaries, rent and electricity bills, but nothing beyond that. For what is considered rigid, we have no penny. No external consultant required in part From the moves, neither to data acquisition nor to anything.

I'm careful about grumbling about it, because in the end a plague fell on the world, and we all got into a very big economic crisis. People lose their jobs, and do not know what will happen to them. But I continue to pay my employees, How much can you complain? You have to remember the context, and the broad framework. There are places that are affected so much more than us, so I keep proportions. A

lot of things we planned to do in 2020 we do not. None of our project is progressing anywhere during this period. The worst hit by the legislative stalemate and the political constellation, combined with the economic crisis brought by the Corona virus, is the world of finance. But it does not appear on the horizon at

all.These are things that are as essential to the world of finance as air len

putting.

For example, all open banking.

There is a ready-made system that allows switching between banks with a click.

But there is no one to legislate, so it is impossible to move forward.

What gets in the way is a simple amendment to the Banknotes Ordinance - but there is no active Knesset, so there is no legislation.

There are money laundering orders that are supposed to allow finteches to enter the banking system, and it's stuck.

There is the sandbox law, which is supposed to allow fintechs to operate under the banking shell, which is softer and more comfortable, and that too is stuck.

The 'Navi Law', which allows non-banking entities to raise credit so that they can grant non-bank credit, is also stuck.

When we entered 2020 and the election campaigns, they said that all this legislation, which is all finished and just waiting for approval, will be delayed by half a year.

Half a year has passed since 2020 was legislatively lost - now it is already clear that there will be no active Knesset before September 2021. We are accumulating a two-year delay, and at the level of the financial worlds it is a catastrophe.

For annual fintechs it is existential.

They leave the market, and leave the country.

I have already heard from a number of fintechs that they have abandoned the Israeli market, they have given up entering it and are working elsewhere.

This is the area that has been hit the hardest, and we will see the hit when we wake up after the crisis.

There is a lot of talk about competition in the field of banks and finance, but the work in this field is not progressing anywhere.

Our teams are working-working-working, and in the end everything gets stuck in legislation.

This is Paul Gas in neutral.

Beyond legislation, there are no projects today.

They do not move anywhere.

Anything that requires the purchase of a database or hiring an expert to help - is stopped.

We buy data to save the collection of this data from the market, but today there is no budget for it.

We try to manage our enforcement operations as usual, but there are certainly more complex enforcement measures that have been stopped.

They are in line, and I hope they come back to life. "

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They are dormant and we pay the price.

Netanyahu and Gantz (Photo: Shmulik Grossman, Knesset Spokeswoman)

A senior official in the Ministry of Communications: "Without the Arrangements Law and without legislation, I am stuck and the system is stuck. Today we are sitting and waiting with three very significant laws."

"The story of the Ministry of Communications is not money, it is not a budget ministry. With the money I know how to deal and quarrel with the budget department in the Ministry of Finance, and finally get along. The story of this ministry is regulation.

My main problem, and it is a very difficult problem, is The budget for the Arrangements Law, in the absence of this law - is over. What is the justification of a minister to entrust his legislation to the Minister of Finance? Only when she goes through the abbreviated procedure called the Arrangements Law.

Every minister does it with love, gives his laws to go through this process .

without the arrangements Law, and without legislation, I'm stuck and the system is stuck. today we sit in the office and waiting with the three laws is very important. the first is the law of the fibers Haoftiiim, who went public hearing and ready to reach a ministerial Committee on legislation, including agreements with MK Yaakov Margi, Hugh " The Economics Committee, which has read and known the law from below, from above and from the sides,

means that at the end of the day Bezeq will start deploying optical fibers, there will be pressure from competitors, but in the absence of legislation there will be no universal fund to fund the deployment. Of fibers in unprofitable areas that are deployed where it is most economically feasible. Anyone who lives in a detached house in a problematic topography, let alone a problematic geography, can 'look for his friends'. This is the result.

The second law is the law opening competition in the communications market - the law that regulates the entry of new small players into competition with the big operators. This is another law we have finished after comments to the public, and is ready to go out tomorrow and liberate the media economy. A lot of licenses become permits, a lot of permits are revoked, lower guarantees and license fees, in fact it is a law that reduces barriers, and changes the communications law fundamentally.

We are ready and waiting for the Ministerial Committee for Legislation to kindly bring us in, so that we can get to the Economics Committee, and that is stuck. What is supposed to bring energy to the economy, waits until we are approved. So okay, they will not let the Arrangements Act, but they will let me enter the Ministerial Committee for Legislation. I will go alone, I know how to pass legislation, but there is nothing.

The third thing that has been delayed for a long time is the memorandum of the Postal Law, which is supposed to regulate the lowering of tariff control, the possibility of the post office for collaborations and its transition to split activity. All of these things, which we approved following the recommendations of the Rosen Committee, are sitting on the office desk as a memorandum of law, and we have nothing to do with it.

"Another thing that is stuck is appointments - there are no appointments, the cable and satellite council is barely functioning and it does not have a chairman, the other authority is missing people, everything is waiting. We want to appoint, and everything is stuck."

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