The Finance Committee (Hebrew: ועדת הכספים) is a permanent Knesset committee which oversees

Finance Finance refers to monetary resources and to the study and Academic discipline, discipline of money, currency, assets and Liability (financial accounting), liabilities. As a subject of study, is a field of Business administration, Business Admin ...

issues of the

State of Israel Israel, officially the State of Israel, is a country in West Asia. It Borders of Israel, shares borders with Lebanon to the north, Syria to the north-east, Jordan to the east, Egypt to the south-west, and the Mediterranean Sea to the west. Isr ...

, including the drafting of legislation, supervision over related government ministries and the approval of their budgets. It is regarded as one of two most important Knesset committees (the other being the

Foreign Affairs and Defense Committee The Foreign Affairs and Defense Committee () is a permanent Knesset committee which oversees key Foreign and Defense issues of the State of Israel, including the drafting of legislation, supervision over related government ministries and the ...

). Article 100(2) of the Knesset's Rules of Procedure states that its areas of concern are "the state

budget A budget is a calculation plan, usually but not always financial plan, financial, for a defined accounting period, period, often one year or a month. A budget may include anticipated sales volumes and revenues, resource quantities including tim ...

;

taxes A tax is a mandatory financial charge or levy imposed on an individual or legal entity by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities. Tax co ...

of all kinds; customs and excise duties;

loans In finance, a loan is the tender of money by one party to another with an agreement to pay it back. The recipient, or borrower, incurs a debt and is usually required to pay interest for the use of the money. The document evidencing the debt ( ...

;

currency A currency is a standardization of money in any form, in use or circulation as a medium of exchange, for example banknotes and coins. A more general definition is that a currency is a ''system of money'' in common use within a specific envi ...

and foreign exchange matters;

banking A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

and banknotes; state revenues and expenditures."

Activity

The Finance Committee is considered one of the most important and influential committees in the Knesset and has great political weight. The committee deals, among other things, with the state budget, taxes of all kinds, banking, banknotes, and state revenues and expenditures. The committee discusses the state budget and prepares them for second and third voting in the Knesset plenum. It has the ability to have a far-reaching influence on the composition of the budget, which includes, among other things, transferring financial support to various sectors and bodies. The committee also discusses economic laws, and in particular tax laws.

Subcommittee

The Finance Committee has subcommittees, which change from time to time. The committee also has joint committees with other committees. Below is a list of the subcommittees and joint committees of the Finance Committee in the 25th Knesset: * Subcommittee on Supervision of Financial Services Providers in the Capital Markets * Joint Committee of the Foreign Affairs and Defense Committee and the Finance Committee on the Defense Budget * Joint Committee of the Knesset Committee and the Finance Committee on the Knesset Budget under the Budget Foundations Law

References

External links

Official site
{{DEFAULTSORT:Finance Committee Legislative branch of Israel Committees of the Knesset