The Bank of Israel wins an international prize for excellence in management of the currency system

 

The international journal “Central Banking” announced this morning that it has selected the Bank of Israel as winner of the “Currency Manager of the Year 2019” award.  The decision was made by a committee of the journal’s editorial members and members of the journal’s advisory committee, which is comprised of former central bankers from around the world.

 

Christopher Jeffrey, editor of the journal and chairman of the prize committee, said, “The judges were particularly impressed with the innovation and efficiency of the Bank of Israel’s management of its banknotes, and with the fact that central banks from around the world are coming to learn from the Bank of Israel’s Currency Department.”

 

Bank of Israel Governor Prof. Amir Yaron said, "We are honored that the ‘Central Banking’ Awards Committee selected the Bank of Israel as Currency Manager of the Year. This prestigious award recognizes the innovative work and significant achievements accomplished in recent years by our Currency Department, under the leadership of Dr. Ilan Steiner, including the issuance of a new series of banknotes, reforms in cash management policy, and unprecedented measures against counterfeiters, as well as integration of data analytics and technological advancements in the field of currency."

 

Bank of Israel Director General Hezi Kalo added: "Notwithstanding the fact that Israel, like many other countries, promotes advanced payment systems, cash remains a significant means of payment for consumers. Therefore, the Bank of Israel is committed to ensuring that the Israeli public, including the visually impaired, have access to an advanced, secure and efficient cash system of the highest standard."

 

“Central Banking”, published in London, was founded in 1990, and is the only independent journal on central banking.  It is read in 140 countries, and by most central banks, around the world.  The journal presents annual awards in various central banking categories.  In 2017, it recognized the Bank of Israel as “Reserve Manager of the Year”, and in 2016, it awarded the Bank of Israel its Transparency Award.

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