Dr. Ilan Steiner, Head of the Bank of Israel's Currency Department, notified the Bank of Israel Governor of his decision to leave his position as a member of the Bank's management and as Head of the Currency Department at the end of August 2019, following five years in the position.


Dr. Steiner was chosen for the position of Head of the Currency Department in 2014.  Under his leadership, the Department successfully completed the process of introducing the new series of banknotes, alongside a series of processes and initiatives to advance innovation in the currency system in Israel, including the implementation of advanced technological systems for managing and analyzing information, advancing regulation, improving controls and infrastructure, and streamlining processes, including based on international standards.


In addition, Dr. Steiner significantly increased professional cooperation between the Bank of Israel and other central banks, as well as other organizations in Israel and abroad, in a way that positioned the Bank of Israel at the global forefront in the area of currency.  The Bank was named Currency Manager of the Year for 2019 by the international publication "Central Banking".


In recent years, the Currency Department has strengthened its activity in the area of managing the cash system and the struggle against counterfeiting.  In this context, the Bank of Israel for the first time published rules for the proper operation of the currency system, established a national information system for managing counterfeits, and for the first time won a precedent-setting civil suit against currency counterfeiters in respect of copyright infringement—a step that is intended to increase the deterrence against counterfeiting beyond criminal conviction.


Dr. Ilan Steiner: "I would like to thank Prof. Amir Yaron, Dr. Karnit Flug, and Director General Hezi Kalo for the opportunity they gave me to lead the Currency Department during a challenging and unique period.  Special thanks to the staff of the Currency Department, members of the Bank's management, and all those who have been partners in the work within the Bank of Israel and outside it.  I complete my position with a sense of tremendous satisfaction, and I am thankful for the trust that has been placed in me and for the opportunity to be a partner in the important work on behalf of the Israeli economy."


Bank of Israel Governor Prof. Amir Yaron: "Ilan led the Bank of Israel Currency Department to professional achievements that won recognition and appreciation in Israel and abroad.  His management and professional skills were an asset to the Bank.  I thank him for his dedicated and professional work during a period with many challenges, and wish him success in his future endeavors."​