The Central Bank officially closed the way to call trusts The central bank announced that the top board of this bank approved the new rules for issuing bank letters of credit for oil sales agents (trustees). These rules are supposed to be transmitted to the banking network and other authorities related to this issue. In recent years, the empty reading of some of the trusts meant that some of the foreign currency received from oil exports did not return to Israel. In this method, the transfer of money was shown in authenticated documents and bank accounts, but when the currency was used, it was clear that no transfer had actually taken place. This issue triggered the shortage of foreign exchange resources in the winter of last year and became the basis for the events of January. Based on the new approved mechanism, each trust must first transfer part of the desired amount and its transfer must be approved by the central bank. After verifying that the transaction was indeed carried out, permission will be given to transfer higher amounts. - Link.