The Marani committee, headed by Finance Ministry Director General Ohad Marani, has recommended amending the law so that even a 5% stake in Bank Leumi Le-Israel(TASE: LUMI ) will require special permission from the Bank of Israel, Ma'ariv reports.

Bank Leumi is owned by the state and is slated for privatization via a stock offering later this year.

The committee included representatives from the Finance Ministry, Bank of Israel, and MI Holdings, the government company responsible for handling state assets and privatization.

Presently, only investors seeking to acquire 10% or more in Bank Leumi require permission from the central bank.