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Policy lobbyists to stop working with Bank of Israel

Attorney General said hiring lobbyists is improper use of state funds

Consultancy firm Policy, specializing in political lobbying, has decided together with the Bank of Israel to cease its activities with the bank.

The decision comes after Attorney General Elyakim Rubinstein said that hiring lobbyists forms improper use of state funds.

The bank said it hopes that should the legislation process continue, the bank will get the opportunity to explain in detail the big risks that hundreds of thousands of families face, as well as the economy as a whole, if certain proposals for the politization of professional decisions become laws, in addition to their being placed in the hands of entities with alleged conflicts of interests.

The bank said that under such conditions it will not be possible to maintain price stability, and that there is a real danger of destabilization of markets and financial entities.

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The Bank of Israel supports establishing an independent monetary commission whose decisions will be made to maintain price stability, and support financial stability, while the bank would remain independent in selecting the policy tools for attaining the objectives.