12.2

CERTIFICATION BY
CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 302 OF THE 
SARBANES-OXLEY ACT OF 2002

I, Yaky Yanay, certify that:

|1. | I have
  reviewed this annual report on Form 20-F of Elbit Vision Systems Ltd.;                                                                                                                                                                                                                                                   
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                   
|2. | Based on my
  knowledge, this annual report does not contain any untrue statement of a
  material fact or omit to state a material fact necessary to make the
  statements made, in light of the circumstances under which such statements
  were made, not misleading with respect to the period covered by this annual
  report;
|   |                                                                                                                                                                                                                                                                                                                                   
|3. | Based on my
  knowledge, the financial statements, and other financial information included
  in this annual report, fairly present in all material respects the financial
  condition, results of operations and cash flows of the company as of, and
  for, the periods presented in this annual report;                        
|   |                                                                                                                                                                                                                                                                                                                                   
|4. | The
  companys other certifying officers and I are responsible for establishing
  and maintaining disclosure controls and procedures (as defined in Exchange
  Act Rules 13(a) and 15(e) for the company and have:                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                   
|   | a)                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                   
|   | b)                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                   
|   | c)                                                                                                                                                                                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                   
|5. | The
  companys other certifying officers and I have disclosed, based on our most
  recent evaluation of internal control over financial reporting,, to the
  companys auditors and the audit committee of companys board of directors
  (or persons performing the equivalent function):                                       

87

---

---

| |    |                                                                                                                                                                                                                                                                               
| | -- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
| | a) | all
  significant deficiencies and material weaknesses in the design or operation
  of internal control over financial reporting which are reasonably likely to
  adversely affect the companys ability to record, process, summarize and
  report financial information; and
| |    |                                                                                                                                                                                                                                                                               
| | b) | any fraud,
  whether or not material, that involves management or other employees who have
  a significant role in the companys internal control over financial reporting
  s; and                                                                                           

June 29th, 2004

| | /S/    YAKY
  YANAY      
| | -------------------------
| |                          
| |                          
| | Yaky Yanay               
| | Chief
  Financial Officer

88

---

---