Supervisor of Credit Data Sharing, Tsuriel Tamam, notified the Bank of Israel Director General of his intention to end his employment and leave the Bank of Israel after a replacement is found.
Tsuriel Tamam was appointed in October 2015 to the position of "Business Manager" in the national Credit Data Register project, and in April 2017, he was appoint by then-Governor of the Bank of Israel, Dr. Karnit Flug, as Supervisor of Credit Data Sharing, subordinate to Bank of Israel Director General Hezi Kalo and then-Deputy Governor Dr. Nadine Baudot-Trajtenberg.
Tamam was appointed to his position after serving for more than 20 years in various positions in the Banking Supervision Department. His most recent position in the Department was as Deputy Supervisor of Banks and head of the Offsite Evaluation Division, which is entrusted with on-going monitoring of the banking corporations and assessing their risk profile.
As part of his position as Supervisor of Credit Data Sharing, Tamam worked to implement the Credit Data Sharing Law and to build the Credit Data Register that was established by the Bank of Israel under the Law, as part of the measures to promote competition and improve the customer's standing in the Israeli credit market. The Register was successfully established in accordance with the schedule set forth in the law, after complex business development and advanced broad technological implementation, and began operating in April 2019. Approximately 30 credit providers report to the system on a daily basis, and many others are in the process of joining. In the first two months of operation, more than 1.5 million queries have been submitted to the system. The Credit Data Register includes very-high-quality credit data with historical depth of three years, enabling the development of high-quality models. Two credit bureaus have obtained licenses from the Supervisor, and a third bureau is in the midst of the licensing process. The bureaus provide reports and credit ratings on a daily basis, and are prepared to offer advanced services in retail credit, financial consulting, and cost comparison.
Tsuriel Tamam: "I would like to thank the Governor, Prof. Amir Yaron, the previous governor, Dr. Karnit Flug, former Deputy Governor Dr. Nadine Baudot-Trajtenberg, and Bank of Israel Director General Hezi Kalo for the tremendous trust I enjoyed in fulfilling my position. In addition, I would like to thank my colleagues at the Bank of Israel, and particularly those who helped me to lead, build, and establish the Credit Data Register and to enable its operation on time and with the proper quality to benefit the economy and the well-being of Israel's citizens. I was involved in an important process for the Israeli economy, and we met all the targets we set for ourselves. This is the right time to look back with tremendous satisfaction and to move on to new challenges."
Bank of Israel Director General Hezi Kalo said, "I would like to thank Tsuriel Tamam for his many years of service at the Bank of Israel. His broad knowledge of the world of finance, with an emphasis on the banking and credit fields, was an asset to the Bank of Israel. Tsuriel formulated and implemented the work doctrine of the Supervisor of Credit Data Sharing, and did so successfully thanks to his unique view that combines informed decision making based on many years of experience with a forward view and understanding of the changes in the credit system and the drive to benefit the borrowing public. I wish Tsuriel success, and I hope that in his next position as well, he will find a way to continue providing his know-how to benefit the Israeli economy and public."