Former Bank of Israel governor Moshe Sanbar passed away, Monday, at the age of 86.

The bank released a statement, Tuesday, which said, "Moshe Sanbar served as Governor of the Bank of Israel from 1971 to 1976 and steered the central bank of the state of Israel through a complex economic reality." Noting his other positions in the public and private sector, the statement added, His imprint on Israel's economy will remain for many years."