On the one hand, secrecy provisions are a vital element to ensure the trust of actors in the financial market. On the other hand, �shadow financing� distorts global markets and prevents an effective and much needed regulation of finance for a fair and socially just economy.

Israel loses yearly around 50 Billion NIS through shadow financing. Based on the Financial Secrecy Index (FSI), coupled with selected indicators, Israel�s situation is compared with that of other OECD countries. Apart from deep analysis, the publication also offers detailed suggestions for political reform tackling these issues.