Histadrut head Ofer Eini will tomorrow propose that the Ministry of Finance will cease to supervise salaries at the Bank of Israel, and that it should be replaced by the new administrative council being set up by the Bank of Israel Law. Sources inform "Globes" that the proposal will be aired tomorrow during discussions about the new Bank of Israel Law in the Knesset Finance Committee.

The mechanism that Eini will suggest is that the new administrative council will decide on changes in the salary with the Ministry of Finance permitted to oppose proposals. In the event of Ministry of Finance opposition a "salary committee" will be set up to determine the matter. If there is still deadlock then the prime minister will decide and there can be no further appeal. The process should not take longer than 270 days.

Published by Globes [online], Israel business news - www.globes-online.com - on March 8, 2010

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