University of Penn. economist cleared to head Bank of Israel

US-based academic cleared by vetting committee to replace Karnit Flug as Israel's top banker.

Tzvi Lev,

Bank of Israel
Bank of Israel
Flash 90

The Senior Appointments Advisory Committee has approved Professor Amir Yaron to be the Bank of Israel's governor.

The Advisory Committee, also known as the Goldberg Committee, is responsible for vetting senior civil service officials, including the Police Commissioner, the IDF Chief of Staff, and the Governor of the Bank of Israel.

As part of the vetting process, the committee invited outgoing governor Dr. Karnit Flug, to list any objections she might have and reviewed a letter of support for Yaron written by Prime Minister Netanyahu.

"After examining all the information, the committee decided that it did not find fault with Professor Amir Yaron in terms of his integrity, nor did he find any flaw in terms of the integrity of the considerations underlying the recommendation to appoint him to the Governor of the Bank of Israel," said the committee.

Prime Minister Netanyahu welcomed the committee's decision, saying that "I am sure that Prof. Amir Yaron will lead the Bank of Israel responsibly and will help continue the success of the Israeli economy".

The Prime Minister and Finance Minister Moshe Kahlon will bring Professor Yaron's candidacy for the position of Governor of the Bank of Israel to the cabinet for approval at its next meeting on Sunday.

Yaron, who teaches banking and finance at the University of Pennsylvania’s Wharton Business School – President Donald Trump’s alma mater – will replace Flug on November 12th,

After receiving his Bachelor’s and Master’s degrees in economics from the University of Tel Aviv in 1985 and 1988, Yaron earned an additional Master’s degree in economics from the University of Chicago in 1992, before receiving his doctorate there in 1994.


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