BREAKING NEWS

Hapoalim's Leiderman nominated as BOI governor

By REUTERS

JULY 31, 2013 18:54

Prime Minister Binyamin Netanyahu and Finance Minister on Wednesday nominated Bank Hapoalim Chief Economist Leo Leiderman to the post of Bank of Israel Governor, just two days after Jacob Frenkel withdrew his nomination.

If approved, Leiderman will replace Stanley Fischer, who stepped down from the post at the end of June.

Fischer's deputy Karnit Flug, who is currently serving as acting governor and was speculated to also be in the running for the nomination, announced that she would be leaving the Bank once the next governor took his position.

Frenkel withdrew his nomination following the emergence of a scandal over alleged shoplifting in a Hong Kong airport in 2006, which drew immense public scrutiny despite his explanation that the incident was a misunderstanding and that no charges were filed.

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