The security cabinet on Tuesday declared 50 organizations as being terrorist groups. The organizations have already been recognized as terror groups by various governments around the world, including the United States, and the UN Security Council as well. The decision is designed to place Israel at the side of western countries fighting terrorism.
As a result of the decision, Israeli banks and financial institutions are obligated to check accounts and make sure that none are owned by the organizations in question, or by affiliated groups that work in tandem with them. The government will issue lists of the suspected groups and their subsidiaries on a regular basis, and update them as needed.