Bank of Israel

Bank of Israel
Official Award Medal, 5731-1971

The Bank of Israel, the central government bank of the State of Israel, was established on the basis of a law passed in the Knesset on August 24th, 1954. The bank is headed by a governor appointed by the President of the State of Israel for a term of five years. He is assisted by an advisory board consisting of seven members and a governing board of 1 5 members, all appointed by the government. The bank has the following departments: banking, bank supervision, State loan administration, research, department of the general secretary (in charge of currency control). The governor also serves as economic advisor to the government.

Obverse: Around the Hebrew and English inscription "Bank of Israel" there appear six subjects found on ancient Hebrew coins, which also appear on modern State of Israel coins: pomegranates, candelabra, harp, palm tree, stylized pomegranates, and a kernel of rye.

Reverse: A schematic panorama of Jerusalem. The inscription "Jerusalem" in Hebrew and English.

Edge: The State emblem and the words "State of Israel" in Hebrew and English. The silver medals bear "Silver 935" in Hebrew and "Sterling" in English.

Designer: Obverse - Nathan Karp and Dov Genachowski. Reverse - Ya'akov Zim.

Engraving: Kretschmer

Mint: Kretschmer