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The Bank of Israel joins the International Committee on Credit Reporting (ICCR)

On 13th July, the World Bank issued an official approval for the Bank of Israel to join the International Committee on Credit Reporting (ICCR), consists of worldwide committees on credit reporting.

Background

In November 2022, at the winter meeting of the International Committee on Credit Reporting (ICCR), it was decided to approve the Bank of Israel’s accession as a member of the organization by a unanimous voting.

Since November, the World Bank has taken internal steps to approve the Bank of Israel’s membership and following the convening of the spring session of the ICCR committee in June, the World Bank issued an official approval for the Bank of Israel’s membership in ICCR.

About ICCR

  • ICCR has been established by the World Bank in 2009 with the support of Bank for International Standards (BIS).
  • The chairperson of ICCR is Jean Pesme.
  • The main aim of ICCR is to create international credit reporting standards.
  • ICCR includes representatives of central banks around the world and private financial regulators.
  • The ICCR supports a broad, forward-looking approach to issues in the world of credit reporting, achieving consensus regarding policy aspects that affect the public interests.

 

Responsibilities of ICCR:

  • To further develop the international agreed framework in its general principles.
  • To identify areas of further consideration
  • To dedicate resources to the elaboration of papers, reports, guidelines and other relevant materials that will effectively support the adequate implementation of the general policies.

About the Bank of Israel

  • Central Bank of Israel.
  • Establishment: 1954
  • Headquarter: Kiryat HaMemshala in Jerusalem with a branch in Tel Aviv.
  • Current Governor: Amir Yaron
  • Director General: Shulamit Geri

 

                                       

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