Israel Administrative Council holds first meeting

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The Bank of Israel's Administrative Council has held its inaugural meeting 17 months after the law ordering its creation was ratified.

On June 1, 2010 the Bank of Israel Law, went into effect. The law was aimed at strengthening the independence of the Bank, and stipulated mechanisms for public and internal control.

The legislation called for the establishment of an Administrative Council, the majority of whose members are from among the public. The appointment of external members was intended as

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