Bank of Israel

The Bank of Israel (Hebrew: בנק ישראל) is the central bank of the State of Israel. Established in 1954, the Bank operates under the Bank of Israel Law (2010) with statutory independence on monetary policy and supervisory authority over the Israeli banking system.

The Bank operates four principal mandates:

— Monetary policy and the management of the shekel exchange rate — Banking supervision (the Bank's Banking Supervision Department supervises the Israeli commercial banking sector under the Banking Ordinance and adjacent statutory framework) — Foreign exchange reserves management (the Bank's foreign reserves position is one of the larger central-bank reserve positions globally relative to Israeli GDP) — Payments-systems oversight and the broader financial-stability mandate

The Bank operates alongside the Israel Securities Authority (capital markets supervision), the Capital Markets, Insurance and Savings Authority (non-bank financial supervision), and the Israel Ministry of Finance.

The Bank's Governor — historically appointed by the Israeli government for five-year terms — operates as one of the central institutional figures of Israeli economic policy. Specific current leadership should be referenced from current Bank of Israel publications.

See also: /glossary/israeli-banking-system/, /glossary/shekel/, /public-institutions/bank-of-israel-mandate/