The Bank of Israel is the central bank of the country. The bank was established in the year 1954. During the 1980s and 1990s, the bank had adopted major structural changes.
As the central bank of the country, the bank performs the following functions:
- Issues the banknotes and coins.
- Formulates the monetary policy
- Manages the foreign exchange reserves
- Supervises banking activities
- Maintains financial stability
- Acts as a banker to the Government and banks
- Representing Israel in international scenario.
The bank of Israel is being headed by the Governor. The Governor of the bank is assisted by two deputies who are appointed by the Government in consultation with the Governor. The Governor is appointed for a period of two years. The Governor is responsible for managing the Bank of Israel and determining the policy of the bank.
The Address and Contact details of the bank is as follows:
Bank of Israel
Address: Bank of Israel Street P.O. Box 780 Jerusalem 91007 ISRAEL
Phone No.: ++972-2-655 22 11
Fax: ++972-2-652 88 05