The Citizens of Israel Fund Law, 5774-2014, sets the establishment of a fund to manage the State’s revenues from the Gas and Oil Profits Levy. The Fund will administer the State’s revenues from the Levy, with a long-range economic perspective. The Fund’s investment policy shall be established by the Fund’s Council, headed by Minister of Finance Mr. Avigdor Liberman and its Investment Committee, headed by Mr. Yarom Ariav, while the Fund’s assets will be managed by a Department to Manage the Citizens of Israel Fund’s Assets that will be established at the Bank of Israel.


The Governor of the Bank of Israel has appointed a Search Committee to locate candidates for the position of Director of the Department. The Search Committee is headed by Deputy Governor of the Bank of Israel Mr. Andrew Abir. The other members are Bank of Israel General Counsel Adv. Tida Shamir and Prof. Avner Kalay, Professor of Finance at the University of Utah and Professor Emeritus at Tel-Aviv University. The Search Committee today is publishing a call for candidates (link) for the position. The appointment will be made by the Fund’s Council in accordance with the proposal of the Governor. The call for candidates includes the minimum requirements, the additional required qualifications, and an explanation on submitting a candidacy.


Deputy Governor of the Bank of Israel Mr. Andrew Abir said, “This is an important position. The first manager of the Management Department will lay out the design of the Department for many years to come. I call on experienced and creative investment managers with management ability and initiative to submit their candidacy for this challenging position.”​