Vision Values And Objectives

The Bank’s Vision

To be among the most advanced central banks and to contribute to the prosperity of Israel and the welfare of its citizens.

Professionalism - We aspire to be at the forefront of professional knowledge in all relevant areas. This is part of the aspiration to personal excellence and a way of thinking that is original, independent, nonconventional, and innovative.
Stateliness - The basic criterion of the Bank’s activity is the maximization of benefit to the State and its citizens over time. This activity includes maintaining the rule of law, the country’s sovereignty, and its values.
Integrity - We aspire to honesty and credibility while remaining faithful to our principles, values, and professional truth, without introducing foreign considerations and personal interests.
Partnership - Cooperation, sharing of information, and exchange of ideas between all the components of the organization -- employees, managers, customers, and suppliers -- in order to achieve the Bank’s goals.
Fairness and respect for the individual - A commitment to an organizational outlook that promotes a focused and consistent attitude towards the Bank’s employees, based on the recognition of an individual’s worth. Promotion of an organizational culture that encourages commitment, trust, and mutual respect.

As part of the performance of the Bank's functions, the Bank of Israel management has set out a number of main objectives for the coming years.

Part 1 - Activity for the benefit of the public and the economy

Maintaining price stability

Analyzing the pass-through mechanism of monetary policy in view of the conditions created following the crisis.
Examining the functioning and effectiveness of conventional and nonconventional monetary policy tools.
If the conditions are right, taking steps to renormalize the interest rate environment and monetary policy tools in general.

Strengthening the stability of the financial system and its resilience to crises

Advancing risk-adjusted prudential supervision in the banking system.
Advancing supervision and regulation of the payment and settlement systems and of payment services.
Establishing a financial stability committee to coordinate between the financial supervisory authorities.
Initiating deposit insurance and resolution tools.

Advancing effective and reliable payment systems and means of payment

Promoting the use of advanced electronic means of payment and systems.
Advancing infrastructure for the fast and secure settlement of advanced retail payments.
Issuing a new series of banknotes.

Maintaining the public's trust in the currency through public information and counterfeit prevention.

Increasing competition and efficiency in the financial system

Advancing competition in the retail credit field, partly through the establishment of a national credit data sharing database.
Expanding access to the payment and settlement systems for entities that are not banking corporations.
Formulation risk-adjusted regulation for merchant acquirers, nonbank entities and new banks.
Opening the credit card infrastructure to competition, and improving its efficiency.
Advancing technology and innovation in the banking and financial fields.

Protecting the banking system's customers

Maintaining close contact between the Banking Supervision Department and representatives of the public and social organizations.
Strengthening the Bank of Israel's public enquiries service for banking system customers.
Promoting banking and financial awareness.

Support for sustainable and inclusive growth

Developing recommendations for economic policy that will contributed to growth of the Israeli economy by increasing productivity, development of physical infrastructure and human capital, and streamlining their use.
Conducting studies in the welfare and employment fields in order to create a foundation for recommendations on policy measures that will increase income and employment in all layers of the population.

Advancing economic research and statistical information

Expanding the accessibility of statistical information to the general public and to economic researchers.
Expanding statistical information in new fields in accordance with economic developments.
Advancing economic research at international standards in fields related to the Israeli economy.

Managing the country's foreign exchange reserves

Attaining a strong return by expanding the range of instruments and markets in which the reserves are invested, while maintaining their purchasing power ,their high liquidity level, and the risk profile framework.

Preparation for the establishment of the Citizens of Israel Fund

Part 2 - Activity to ensure the existence of an advanced, dynamic, and effective central bank that earns the public's trust

Strengthening the Bank's organizational readiness to attain its objectives

Upgrading the Bank's physical infrastructure and adapting it to changing needs.
Deepening the Bank's risk management array.
Adopting innovating technologies at the Bank.
Strengthening the Bank of Israel's functional continuity and cyber protection during crisis situations.

Development of human capital

Recruiting and preserving high-quality and diverse manpower.
Implementing new tools to develop human capital.
Tightening cooperation and coordination with other central banks and regulators in Israel and abroad.

Deepening information and knowledge management at the Bank

Establishing an intraorganizational communication and information sharing array, including the appropriate technological infrastructure.
Establishing and advancing integrative infrastructure for the management and maximization of the Bank's databases.

Maintaining and strengthening the public's trust in the Bank of Israel

Expanding and increasing the effectiveness of public information to explain the Bank of Israel's policy and actions to various target groups.