- published: 08 Sep 2014
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The Bank of Israel (Hebrew: בנק ישראל Arabic: بنك إسرائيل) is the central bank of Israel. It is located in Kiryat HaMemshala in Jerusalem, with a branch office in Tel Aviv. The current governor is Stanley Fischer.
When Israel declared independence in 1948, the power of note issuance was vested with the Anglo-Palestine Bank, which was refounded as Bank Leumi in 1950. Monetary policy and banking supervision remained controlled by the Ministry of Finance.
The Bank of Israel was founded on August 24, 1954, when the Knesset passed the Bank of Israel Act, which ceded the currency issuing and regulatory functions of the Ministry of Finance to the newly formed Bank. Control over foreign currency exchange was not given to the bank until 1978. The Bank was made completely independent in 1985 and since 1992, the Bank manages its monetary policy so as to meet the inflation target set by the Israeli government - which is today a range of between 1 and 3 percent per annum, considered as price stability. Additionally, the Bank manages the Foreign Exchange Reserves.
Coordinates: 31°N 35°E / 31°N 35°E / 31; 35
Israel, officially the State of Israel ( /ˈɪzriːəl/ or
/ˈɪzreɪəl/; Hebrew: מְדִינַת יִשְׂרָאֵל, Medīnat Yisrā'el, IPA: [me̞diˈnät jisʁäˈʔe̞l] (
listen); Arabic: دَوْلَة إِسْرَائِيل, Dawlat Isrāʼīl, IPA: [dawlat ʔisraːˈʔiːl]), is a parliamentary republic in the Middle East, along the eastern shore of the Mediterranean Sea. It borders Lebanon in the north, Syria in the northeast, Jordan and the West Bank in the east, Egypt and the Gaza Strip on the southwest, and the Gulf of Aqaba in the Red Sea to the south, and it contains geographically diverse features within its relatively small area. Israel is defined as a Jewish and Democratic State in its Basic Laws and is the world's only Jewish-majority state.
Following the adoption of a resolution by the General Assembly of the United Nations on 29 November 1947 recommending the adoption and implementation of the United Nations plan to partition Palestine, on 14 May 1948 David Ben-Gurion, the Executive Head of the World Zionist Organization and president of the Jewish Agency for Palestine, declared the establishment of a Jewish state in Eretz Israel, to be known as the State of Israel, a state independent from the British Mandate for Palestine. Neighboring Arab states invaded the next day in support of the Palestinian Arabs. Israel has since fought several wars with neighboring Arab states, in the course of which it has occupied the West Bank, Sinai Peninsula, Gaza Strip and the Golan Heights. Portions of these territories, including east Jerusalem, have been annexed by Israel, but the border with the neighboring West Bank has not yet been permanently defined.[neutrality is disputed] Israel has signed peace treaties with Egypt and Jordan, but efforts to resolve the Israeli–Palestinian conflict have so far not resulted in peace.
RADIO STATION | GENRE | LOCATION |
---|---|---|
Free Palestine Radio | World Middle East | Palestine |
Alaqsa Voice | Talk | Palestine |
Al-Quds Radio | News,World Middle East | Palestine |
Raya FM | Varied | Palestine |
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