Ministry of Finance Director-General, Yossi Bachar, will step down from office at the end of the year.

Bachar was parachuted into the ministry from the private sector by then finance minister, Benjamin Netanyahu, some three years ago.

His most important achievement during his tenure is the legislation known as the "Bachar Law," which reformed the way banks offered trust funds and insurance to clients.

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Bachar intended to quit last year but agreed to Finance Minister Avraham Hirchson request that he stay on.

Bachar has been mentioned recently as a replacement for bank supervisor, Yoav Lehman, whose term endd in December. He had been offered the position of bank supervisor in the past, but turned it down.