Israel's central bank and finance ministry are discussing a possible bailout plan to cushion local banks from the unfolding global financial crunch, local daily Ha'aretz reported Sunday.
Bank of Israel's Governor Stanley Fischer and Finance Minister Roni Bar-On have agreed to closely monitor economic developments at home and abroad over the next few days, before they decide whether to directly inject capital into Israeli banks, said the report.
The central bank and the ministry are also developing a plan over fears that the public will flee provident funds and other long-term investments, the report said without elaborating.
Late last week, Bar-On assured the public that Israel's banking system is in good shape and no Israeli bank would collapse despite the current global financial crisis, due to "a completely different banking system" and the fact that "here we regulate all the time."
He also said that his ministry had devised plans to tackle possible scenarios that may arise in light of worldwide crisis, adding the crisis would not halt the economic growth in the Jewish state.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article