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Watchdog refuses to approve Ofer appointment as Mizrahi chair

Cites law against controlling shareholder serving as chair

Supervisor of Banks Yitzhak Tal, refused to approve Idan Ofer's appointment as chairman of Mizrahi Bank, Ma'ariv is reporting.

According to the story, the appointment currently approved is for nine months, making Idan Ofer the temporary chairman of the bank.

The appointment was approved even though it was contrary to the rules that determine a controlling shareholder may not be appointed bank chairman. At this point Tal decided to limit it in terms of its duration only.

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