News Briefs

  2/23/2014, Adar 23, 5774

Ministers Endorse Publication of "Dormant Accounts"

The Ministerial Committee on Legislation endorsed, Sunday, a bill by Member of Knesset Meir Sheetrit (Hatenu'ah) to establish a Finance Ministry Website for collecting data about "dormant accounts" in all financial institutions, in which the holder of the account has not made any transactions in ten years or more.

The bill would obligate banks, insurance companies and provident funds to provide information to the Internet site. Sheetrit explained, "Such a data base is expected to help the public at large locate its lost funds and the funds of its relatives. The public would be able to use identification numbers to access the personal information.