Fischer will become Bank of Israel governor 1 May

The government is due to approve Prof. Stanley Fischer's appointment as the eighth governor of the Bank of Israel on Monday 21 March, local press reports said.

The cabinet is also expected to extend the appointment of the acting governor, Meir Sokoler, until 30 April.

Fischer was to start earlier but has to complete divesture of interests in the Citicorp financial group where he is a director. He will move from the United States and take out Israeli citizenship before filling the post, reports