Thursday, March 28, 2024

bank of israel

by Hideo Nakamura
bank of israel

Bank of Israel (Hebrew: בנק ישראל‎, Bank Yiśra’el) is the central bank of the State of Israel and was established in 1954. The primary purpose of the Bank is to support economic stability and growth by managing inflation, supervising financial institutions, maintaining a stable banking system, issuing currency and coins for circulation as legal tender, providing credit to businesses and households through its numerous subsidiaries such as Discount Mortgage Banks Ltd., Investment Management & Credit Corporation Ltd., Housing Loan Guarantee Company etc. In addition to these responsibilities it also acts as an advisor for government finance policies.

The Bank’s headquarters are located in Jerusalem with branches throughout the country including Tel Aviv-Yafo which serves as its main branch. It provides services including deposits from commercial banks; discount loans on short or long term basis; foreign exchange transactions involving Israeli new shekel (NIS); issuance and management of government bonds; supervision over financial institutions such banking activities under license granted by other authorities like insurance companies etc.; maintenance/safeguarding international reserves held at major global custodian banks like Citibank N.A.; actively participates in money markets domestically & globally via repo operations i.e repurchase agreements either executing them directly or through broker dealers depending upon availability; implements monetary policy using open market operations conducted regularly mostly focused on liquidity management but sometimes may be used towards achieving target interest rates set by relevant committees related to fiscal politics within specific jurisdictions if needed e-banking facilities enabling customers access various online applications developed by itself that enables real time payments/transfers/information sharing amongst different entities involved etc..

As part of its commitment towards promoting transparency among public sector activities it releases regular statistical reports about economic situation prevailing i nthe country alongwith updates regarding changes implemented / proposed regulations governing industry so people can take informed decisions while dealing with matters pertaining finances understanding implications associated correctly leading better outcomes eventually .

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