Bank of Israel Governor Prof. Amir Yaron returned to Israel after participating in a meeting of central bank governors from around the world who are members of the Bank for International Settlements (BIS)*, which was held in Basel, Switzerland.

Further to his appointment as Chairman of the Small and Open Economies (SOE) Group at the BIS[1], the Governor moderated the professional discussion on this issue at the conference.  The Governor also participated in a joint conference of the IMF and the Swiss central bank on Digital Money and its Implications for the International Monetary System.

* Background on the BIS:

 The Bank for International Settlements (BIS) is the oldest international financial organization.  It currently includes 63 central banks as members, and works to promote cooperation between them.  Its activities include the development of international banking supervision standards and criteria (“Basel Regulations”), monitoring the stability of the international financial system, providing banking services to central banks, and assisting various financial entities in fulfilling their functions.  The Bank of Israel joined the BIS as a full member in September 2003 following the government’s approval.