The Bank of Israel joins the International Committee on Credit Reporting (ICCR): On July 13th, the World Bank granted the Bank of Israel official approval to join the International Committee on Credit Reporting (ICCR), which consists of worldwide credit reporting bodies.
Daily Current Affairs Quiz: July 2023
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 primary goal of the ICCR is to develop international credit reporting standards. ICCR includes representatives of central banks around the world and private financial regulators. The ICCR advocates for a wide, forward-thinking approach to credit reporting concerns, seeking consensus on policy issues that affect the public interest.
Responsibilities of ICCR:
To further develop the international agreed framework in its general principles. To identify areas of further consideration. Devote resources to the development of papers, reports, recommendations, and other necessary documents that will effectively assist the effective implementation of 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
