The Bank of Israel announced that Oded Salomy, Head of the Payment Systems and Settlement Department, will end his four-year term in May 2025 at his request, which Governor Prof. Amir Yaron has accepted. The Governor plans to establish a search committee to lead the appointment of a new head of the Department. Salomy has served in the role since November 2020. During his tenure, the Department operated Bank of Israel-owned payment systems and supervised payment systems considered critical to the Israeli market, including the ZAHAV (RTGS) settlement system, the national check clearinghouse, MASAV-operated faster payments (instant payments) and ACH clearinghouses, and SHVA-operated national payment card and ATM switches. Measures highlighted included enabling nonbank participation in critical systems, promoting contactless card payments including via digital wallets, advancing instant payments, promoting digital alternatives to paper checks, increasing efficiency in cross-border payments, involvement in legislation of the Payment Services Regulation Law (the “Israeli PSD”), upgrading the ZAHAV system, and supporting changes to market structure including the separation of SHVA and MASAV and related governance changes. Next steps are the establishment of the search committee and the selection of a successor ahead of Salomy’s departure in May 2025.
Bank of Israel 2025-01-15
Bank of Israel to form search committee for new Payment Systems and Settlement Department head as Oded Salomy steps down in May 2025
The Bank of Israel announced that Oded Salomy, Head of the Payment Systems and Settlement Department, will conclude his term in May 2025, prompting Governor Prof. Amir Yaron to establish a search committee for his successor. Salomy's tenure included significant advancements in payment systems, such as enabling nonbank participation, promoting digital payments, and supporting legislative and structural changes in the Israeli market.