Text size

President and CEO of United Mizrahi Bank Victor Medina and the chairman of the Migdal insurance company, Aharon Fogel, have been advising Finance Minister Silvan Shalom on economic matters, according to treasury sources. The advice has covered numerous economic issues including the minister's policy with regard to the Bank of Israel.

The two, who both served in senior positions at the finance ministry in the past, have had several meetings with Shalom over the past few months, the sources said.

A spokeswoman for the treasury confirmed that Medina and Fogel were advising Shalom on a range of matters in their field of work, though she refused to comment on whether the advice included Shalom's policy vis-a-vis the governor of the central bank, David Klein.

"Shalom consults with them as he does with professors and other people in the economy on economic issues," the spokeswoman said.