"2003 will be the year of the pension" said the Supervisor of Capital Markets, Eyal Ben-Chelouche, in December 2002. Silvan Shalom was then finance minister and relations between the two were chilly.
It is difficult to argue against the root principle of veteran pension fund Mivtachim's decision to finance part of the purchase of the IDB concern by the group of investors headed by Nochi Dankner.
The former CEO of Edmond Safra's Republic National Bank, Dov Schlein, is a candidate to fill the vacant CEO position at Israel's largest retail bank, Bank Hapoalim. The 54-year-old Schlein, an accountant by training, started working at Republic Bank in 1976, where he filled a series of senior managerial positions until his appointment as president of the bank in 1999.
Gov't hopes panel would have judicial `teeth.'
Israel Discount Bank's heads are leaning toward making provisions of NIS 100-200 million for doubtful debts, to account for the drop in value of its holdings (26 percent) in First International Bank of Israel.
Israel Discount Bank has undergone a series of traumas over the last few months that highlight the failure of government ownership and the urgent need for the bank's privatization.