Bank of Israel : Adv. Ilan Steiner to be appointed Head of Currency Department at the Bank of Israel

BANK OF ISRAEL

Office of the Spokesperson and Economic Information

January26, 2014

Press Release

Adv. Ilan Steiner to be appointed Head of Currency Department

at the Bank of Israel

Governor of the Bank of Israel Dr. KarnitFlug announced today that she has decided to appoint Adv. Ilan Steiner as Head of the Currency Department at the Bank of Israel and member of the Bank's management. The Currency Department's role is to issue, regulate, and guide the currency system and to ensure an orderly supply of cash to the economy. Mr. Steiner, who served until recently as Senior Vice President for Human Resources and Administration at the Israel Antitrust Authority, will begin his role on March 1, 2014.

In September 2013, in light of the planned retirementof Mordechai Fein, the Governor appointed a search committee to fill the position of Head of the Currency Department. The committee was headed by the Bank of Israel's Director General, Mr. Hezi Kalo. Adv. Steiner was recommended for the position by the committee, which interviewed tens of candidates both within and from outside the Bank.

Ilan Steiner joined the legal department of the Israel Antitrust Authority in 2002. Beginning in 2007, he served as senior advisor to the Head of the Antitrust Authority and director of external relations and spokesperson. In 2011 he was chosen as Senior Deputy Director General for Human Resources and Administration. In that position he led a series of processes to strengthen the Authority, including a restructuring, an increase in the workforce, and the establishment of the competitiveness division. Adv. Steiner earned a degree in Law and a graduate degree in Law and Economics from the University of Haifa, and is currently completing his Doctoral thesis on corporate responsibility.

Governor of the Bank of Israel Dr. KarnitFlug said, "Ilan Steiner brings with him significant managerial and professional experience from the Israel Antitrust Authority. I have no doubt that his education and first-hand knowledge with regulatory and public administration systems will enable him to fill the role of Head of the Currency Department successfully and to make a marked contribution to the Bank of Israel.

I would like to take this opportunity to thank Mr. Moti Fein, who headed the Currency Department for the past 9 years with dedication and professionalism, and who will retire soon. I wish Moti much success in the future."