Bank of Israel
About Bank of Israel
The Bank of Israel is the central bank of Israel. It is located in Israel’s capital city of Jerusalem, with a branch office in Tel Aviv. The current governor is Doctor Karnit Flug. The Bank of Israel was founded in 1954. The Bank was made completely independent in 1985 and since 1992, the Bank manages its monetary policy so as to meet the inflation target set by the Israeli government – which is today ranged between 1 and 3 percent per annum, considered as price stability. Additionally, the Bank manages the Foreign Exchange Reserves. In 2010, The Bank of Israel was ranked first among central banks for its efficient functioning, according to IMD’s World Competitiveness Yearbook.