Jacob Frenkel is top candidate, if he can clear his name in shoplifting affair
Bank of Israel
The Bank of Israel was created by the Ministry of Finance in 1948 as the state’s central bank. It is charged with managing the monetary policy of the state and providing economic conditions to promote growth and success, but the government retains control over inflation targets as part of its economic policy.
In order to clearly define the relationship between the Bank of Israel and the government and to ensure the independence of the central bank, the Bank of Israel Law was passed in 1954, officially establishing the Bank of Israel, and the bank’s headquarters was established in Jerusalem.
The Governor of the Bank of Israel has a role in advising the government and in shaping monetary policy in the country. In accordance to Knesset law, the Bank of Israel conducts research by monitoring and analyzing developments in the Israeli economy and submits its results in the Bank of Israel’s Annual Report.
Another important aspect of the Bank of Israel is its role in the foreign currency market. By monitoring and assessing developments in Israel’s foreign currency market, the Bank of Israel conducts the exchange rate policy and publishes the representative exchange rate of the New Israeli Shekel against foreign currencies.
The current Governor of the Bank is internationally renowned economist Stanley Fischer. With Fischer’s guidance, the Bank of Israel helped the Israeli economy overcome the global economic downturn quicker than other Western nations, and his policies are credited with helping the Israeli economy continue to grow.
Moshe Kahlon is determined to act, but all his options are problematic
New law imposes a limit of 11,000 shekels ($3,197) on cash transactions involving businesses, which could be further reduced by the finance minister to 6,000 shekels in 2020
Bank of Israel, New York State to share data on terror finance; Hong Kong company investing in ReWalk; Energy shares lead stocks higher
A gray-market loan from the 1990s grew as sides fought in court. The borrower now owes just 22 million shekels
Bank of Israel says damage from fraud has been minimal to date
Having avoided the fate of Agrexco, a lesson can be learned from the experience of Bezeq
As local currency touches seven-year high against the dollar, manufacturers pivot to focus on cost-cutting strategies
The central bank just released a limp report into the ‘Bank Hapoalim affair,’ in which it mildly chastised the bank for a scandalous cover-up after an employee claimed she had been harassed by the CEO. It’s indicative of its attitude toward big banks in an era of corruption and cronyism
Bank supervisor orders head of audit committee to step down, but takes no other action against Bank Hapoalim