Bank of Israel appoints new payment and settlement systems dept. head

Oded Salomy boasts a wealth of experience in the fields of electronic payments, fintech initiatives and innovations.

The Bank of Israel building in Jerusalem (photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)
The Bank of Israel building in Jerusalem
After interviewing multiple candidates, the Bank of Israel has appointed Oded Salomy to head its Payment and Settlement Systems Department, the bank announced in a statement Thursday.
Having graduated from Harvard University and serving as president emeritus of the Harvard Club of Israel, Salomy brings to the position a wealth of experience in electronic payments. This includes having served as general manager of Visa in Israel, which saw him set up their local headquarters, manage operations and serve on its regional leadership team, where he had responsibilities in numerous European nations. He also boasts years of experience in fintech initiatives and innovation, having been responsible for establishing Visa's global innovation hub in Tel Aviv and for connecting numerous Israeli start-ups with international financial bodies.
And as Bank of Israel governor Prof. Amir Yaron stated, experience in these fields is of the utmost importance.
“Payment systems constitute a critical foundation for the functioning of the financial system in the Israeli economy,” Yaron said in a statement.
Oded Salomy (Photo: Bank of Israel Spokesperson)Oded Salomy (Photo: Bank of Israel Spokesperson)

“The field of payments and settlements has developed rapidly in recent years, both technologically and commercially. By cultivating advanced, convenient, efficient, and secure payment systems, the Bank of Israel helps accelerate innovation and competition in this field, which affects every citizen and every business in the Israeli economy.
“I am certain that Oded Salomy’s tremendous experience in the field of payments and settlement will be an asset to the Bank of Israel, and will help position us in the international center stage in this field. I wish Oded great success in managing and leading the department.”
And Salomy evidently agrees with Yaron's assessment.
“Breakthroughs and innovation in the global payment industry are coming to Israel,” he explained.
“I thank the governor for the opportunity to lead and influence this important trend, which develops the economy and connects the Israeli consumers, merchants and government with those of other advanced economies across the globe.
“Our aspirations for Israel in this field are many. I am excited to collaborate with stakeholders within and outside the Bank of Israel to develop and cultivate new value propositions in this arena.”
Salomy is set to officially take up the post on November 23.