Banking official: Israeli investment banks should be highly supervised

By JPOST.COM STAFF
Moshe Perl, the director-general of the Banks Association, called on Wednesday morning for increased supervision of Israeli investment banks. Perl, who spoke on an Israel Radio show, was optimistic about the possible affects of the American financial meltdown on Israel. "There's no reason to worry about the financial crisis in the US because so far only investment banks, and not commercial banks, have crashed," he said. Perl stressed that the banks in Israel were stable.