Prime Minister Ariel Sharon today reassured depositors at

Industrial Development Bank (TASE:

INDD.GG

) that they had nothing to worry about, despite reports of the bank's shaky condition.

Although the bank is fated to be closed, the prime minister said, he reassured depositors that all deposits would be secured, and everyone would get every shekel they had deposited in return.

In an interview on Channel 10 television news, the prime minister said he had been in northern Israel when the situation deteriorated into a run on the bank.

"I received a phone call from the finance minister and we immediately convened everyone and went into action," Sharon told the interviewer, Yaakov Eilon.

"Supervision over the bank should have been tighter," Sharon added.

Asked whether he was referring to the Bank of Israel, Sharon said, "Whoever should have supervised."

There is no reason for depositors to rush and withdraw money from the bank, the prime minister added.

"Everyone can get every grusch back," albeit over time, the prime minister said. Meanwhile, the bank will continue to function, he said. It will apparently be sold, perhaps to one of the big banks, but for the time being - "There is no reason to rush and withdraw money."