Treasury: Israel's central bank wages shocking

- Central Banking staff
- 12 Mar 2003

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Israel's treasury department has said that it will investigate the legality of high salaries at the Bank of Israel following the release of a report. But the central bank hit back saying that salaries are determined by civil service collective agreements enforced by the treasury and besides, 65% of the Bank's staff have masters degrees or PhDs.

Source: Haaretz Daily

Some 725 public-sector employees earned more than NIS 40,000 a month in 2001, according to the annual report on public-sector wages

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