New Bank of Israel governor: It's a tremendous honor

Cabinet approves Amir Yaron as the next governor of the Bank of Israel.

Arutz Sheva Staff ,

Professor Amir Yaron
Professor Amir Yaron

The Cabinet on Sunday approved Amir Yaron, a finance professor at the University of Pennsylvania’s Wharton School of Business, as the next governor of the Bank of Israel.

Yaron, 54, is a dual Israeli-American citizen who has lived in the United States for the past two decades.

“It is a tremendous honor for me to fill the position of Governor, which has been filled over the years by the best economists in Israel,” he said in a statement.

“I am aware of the heavy responsibility placed on my shoulders, and I will do all in my power to fortify the strength and continued growth of the Israeli economy so that the entire Israeli public will benefit from its results. I thank the outgoing governor, Dr. Karnit Flug, who is handing me a wonderfully managed institution that is leading an economy that is growing and stable.”

The Senior Appointments Advisory Committee approved Yaron’s candidacy earlier this month.

Yaron earned his undergraduate degree at Tel Aviv University and his doctorate at the University of Chicago.

He will replace Dr. Karnit Flug, who announced in July she would not stand as a candidate for an additional term and whose term in office ended, by law, on November 12.