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Israeli cyber security company Wiz is withdrawing tens of millions of dollars from the country's banks, joining the private sector's resistance to the government's planned changes to the judiciary, Reuters reported, citing a source familiar with the matter.

According to him, the company, whose valuation is about $6 billion, is concerned about the growing uncertainty in Israeli markets because of the planned reforms.

Wiz is keeping its operations in Israel for now.

The company refuses to comment on the transfers of funds outside the country, which were first reported by "Channel 12" television.

Wiz is likely following in the footsteps of local venture capital fund Disruptive AI and payments platform Papaya Global, which announced in January that they were moving their bank accounts out of Israel. BTA.

The judicial changes, which have yet to be adopted, would tighten political control over judicial appointments and limit the Supreme Court's rights to overturn government decisions or laws passed by the Knesset.

Prime Minister Benjamin Netanyahu said the changes would restore balance between authorities and give businesses more opportunities by reducing unnecessary litigation.

Two weeks ago, representatives of the technology industry protested the changes, arguing that they undermine democracy, politicize the judiciary and question its independence. Wiz creator Inon Kostika was among the protesters.

"Israel has a thriving technology industry, but it took us decades to build it. We have been able to deal with difficult situations in the past thanks to our strong democracy and good judicial system," he said.