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JERUSALEM: Israeli cybersecurity firm Wiz<\/a> is pulling tens of millions of dollars out of Israeli banks, a source close to the company said on Tuesday, joining private sector opposition to the government's planned overhaul of the judicial system.
The source, who spoke to Reuters on condition of anonymity, said Wiz, a unicorn with a value of some $6 billion, has concerns about growing uncertainty in the Israeli market in light of the proposed changes.
The company will keep its operations in Israel.
Wiz declined to comment on the transfer of money out of Israel which was initially reported by Channel 12 news.
The move follows similar action by local venture capital fund Disruptive AI<\/a> and Papaya Global<\/a>, a payments platform unicorn, which last month said they would move bank accounts out of Israel.
The proposed judicial overhaul, which has yet to be written into law, would tighten political control over judicial appointments and limit the Supreme Court's powers to overturn government decisions or Knesset laws<\/a>.
Prime Minister Benjamin Netanyahu has said the changes would restore balance between the branches of government and boost business by cutting back on unnecessary litigation.
Two weeks ago, tech executives held a protest against the changes, arguing they would harm democracy, politicise the judiciary and compromise its independence.
Wiz founder Yinon Costica was one of the protesters and he told Reuters he was worried about \"abrupt\" and unilateral changes to the judicial system which are not backed by wide acceptance.
\"Israel has a flourishing tech industry and it took us decades to build. We've managed in the past to contend with very difficult security situations and economic slowdowns,\" he said.
\"The thing that protected us is our strong democracy ...and the judicial system.\"
S&P Global Ratings has said the judicial shake-up could pressure Israel's sovereign credit rating and dozens of economists have urged Netanyahu to scrap the plan.
On Monday, Bank of Israel Governor Amir Yaron told lawmakers that institutional independence was vital for Israel's sovereign credit rating.
In a report to clients, HSBC<\/a> said the judicial reform could hurt the shekel given outflows after the currency had benefited from massive foreign inflows the past few years.
\"The possible weakening of the institutional framework with weaker checks and balances could negatively impact FDI<\/a> and weaken a key support for the currency,\" wrote currency strategist Murat Toprak.
Similarly, JP Morgan likened the situation in Israel to that of judicial reforms in Poland in 2015. \"The scale of economic\/market impact is difficult to judge at this stage, but it can be a medium-term negative,\" it said.
The shekel on Tuesday was down 0.2% versus the dollar and 0.8% weaker so far in February.
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网络公司奇才把资金从以色列由于司法计划
源,对路透在匿名的情况下,说奇才,一个独角兽的价值约为60亿美元,在以色列的担忧日益增长的不确定性市场根据修改建议。
耶路撒冷,以色列网络安全公司奇才以色列拉数千万美元的银行,一位接近该公司周二表示,加入私营部门反对政府的司法系统的改革计划。
源,对路透在匿名的情况下,说奇才,一个独角兽的价值约为60亿美元,在以色列的担忧日益增长的不确定性市场根据修改建议。
该公司将在以色列维持运营。
奇才拒绝评论以色列的钱转移由12频道最初报道的新闻。乐动扑克
此前由当地风险投资基金类似的行动破坏性的人工智能和木瓜全球独角兽的支付平台,上个月表示,他们将银行账户的以色列。
拟议的司法改革尚未写入法律,将加强对司法任命的政治控制,限制最高法院推翻政府决策的权力议会法律。
总理内塔尼亚胡表示,变化将恢复平衡政府的分支机构,促进业务通过削减不必要的诉讼。
两周前,科技高管举行抗议的变化,认为他们会伤害民主政治化的司法和妥协其独立性。
奇才创始人Yinon Costica是抗议者之一,他告诉记者说,他担心“突然”和单方面改变司法系统不支持的广泛接受。
“以色列有一个迅速发展的高新技术产业,我们花了几十年。我们在过去面对非常艰难的安全形势和经济减速,”他说。
“保护我们的东西是我们强有力的民主……和司法系统。”
标普全球评级表示司法改革可能压力以色列的主权信用评级和许多经济学家敦促内塔尼亚胡放弃这个计划。
周一,以色列央行行长阿米尔Yaron告诉国会议员,机构的独立性是至关重要的对以色列的主权信用评级。
在给客户的一份报告中,汇丰银行说司法改革可能会损害的平流出在货币受益于过去几年大量的外资流入。
“可能削弱较弱的相互制衡的制度框架可能会产生负面影响外国直接投资和削弱货币的关键支撑,“外汇策略师Murat Toprak写道。
同样,摩根大通将以色列的局势比作2015年在波兰的司法改革。“规模经济/市场影响是很难判断在这个阶段,但它可以是一个中期负的,”它说。
一舍客勒周二兑美元下跌了0.2%,到目前为止在2月份下跌了0.8%。
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