The Bank of Israel is the central bank of Israel. Its objectives are to maintain price stability, support the Government’s objectives – especially growth and employment, and support the stability of the financial system. It also administers and implements monetary policy in Israel, conducts foreign exchange operations, supervises and regulates the banking system, takes care of the foreign reserves and operations of the financial market infrastructure. 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 is Doctor Karnit Flug.
The Bank of Israel became completely independent in 1985 and since 1992, the Bank manages its policy to meet the inflation target set by the Israeli government.
The Bank manages the Foreign Exchange Reserves.
They specialize in banking, monetary policy, research, fiscal policy, public economics, Administration Department, and Human Resources.
In 2010, The Bank of Israel was ranked first among central Banks for its efficient functioning, according to IMD's World Competitiveness Yearbook.