The head of the budget department of the Ministry of Finance and the head of the Bank of Israel are against subsidizing mortgages

According to Frosenfar, “the bill raises numerous professional concerns, including an arbitrary definition of eligibility criteria that favors property owners whose disposable income was not affected in the specified years, as well as the disadvantage of other categories of borrowers whose needs remain unmet.”

Frosenfar also pointed out the lack of funding sources for this initiative in the recently approved state budget.

Bank of Israel Governor Amir Yaron also slammed the initiative, saying it was a program that would “give money to those who have amassed wealth rather than to those who have suffered,” that “the compensation rewards risk-taking and punishes financial responsibility,” and that it is “grossly discriminatory against tenants and other borrowers.”